Overview
- Lewis will take the helm on 1 January 2026 after a unanimous board decision, with Diageo shares rising about 6–7% on the announcement.
- The company now expects organic net sales to be flat to slightly down and has trimmed its profit outlook to low-to-mid single-digit growth.
- Diageo cited softer demand in China and the United States and the impact of higher U.S. tariffs as key pressures on performance.
- Interim chief executive Nik Jhangiani will lead through December before returning to the CFO role, with interim CFO Deirdre Mahlan supporting the handover.
- The former Tesco chief and long-time Unilever executive will step down as Haleon chair on 31 December 2025, as analysts caution that any strategic reset will take time to show results.