Diageo on Monday named former Tesco chief Sir Dave Lewis as its new chief executive, tasking the consumer industry veteran with turning around performance at the world's largest spirits maker.
Lewis will take the helm on Jan. 1, 2026, the company said in a statement.
The appointment comes as the maker of Johnnie Walker whisky and Guinness stout contends with slowing growth, particularly in North America and China.
Last week, Diageo reported flat organic net sales for its first quarter, citing a "softer US consumer environment" and weakness in its Chinese white spirits business.
Lewis, who led a turnaround at British supermarket group Tesco from 2014 to 2020, previously spent nearly three decades at Unilever.
"The market faces some headwinds but there are also significant opportunities," Lewis said in the statement.
"I look forward to working with the team to face these challenges and realise some of the opportunities in a way which creates shareholder value."
Nik Jhangiani, who has served as interim CEO since the departure of the previous chief executive earlier this year, will resume his role as chief financial officer.
According to the company, Lewis's remuneration package will include an annual salary of 1.5 million British Pounds.
Lewis will step down from his role as chair of consumer healthcare company Haleon at the end of 2025.
More from this issuer
Related coverage
Diageo reported flat organic sales for its first quarter and cut its full-year outlook, citing weak demand in the U.S. and for its Chinese white spirits.
Diageo PLC, the maker of Johnnie Walker whisky and Guinness stout, said Wednesday it is raising €1 billion by issuing new bonds, shoring up its finances amid a recent leadership shake-up and weak performance.
Diageo announced Wednesday that Chief Executive Debra Crew has stepped down with immediate effect by mutual agreement, ending a tenure of just over a year.