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Sir Dave Lewis left his role as CEO of Tesco in 2020<\/p>\nSmirnoff owner Diageo has named former Tesco boss Sir Dave Lewis as its new CEO following an \u201cextensive\u201d global search.<\/p>\n
Sir Dave Lewis left his role as CEO of Tesco in 2020<\/p>\n
Lewis will take over the role on 1 January 2026 from interim CEO Nik Jhangiani, who will return to the position of chief financial officer (CFO).<\/p>\n
Lewis brings extensive experience to London-headquartered Diageo, including a six-year CEO stint at the UK\u2019s biggest supermarket chain Tesco from 2014 to 2020 and 28 years at British consumer goods giant Unilever.<\/p>\n
He will join Johnnie Walker maker Diageo as CEO and executive director from British healthcare conglomerate Haleon, where he has been chair since its creation in 2022.<\/p>\n
\u201cDiageo is a world-leading business with a portfolio of very strong brands, and I am delighted to be joining the team,\u201d Lewis said. \u201cThe market faces some headwinds but there are also significant opportunities. 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.\u201d<\/p>\n
Diageo said the new CEO \u201creflects the outcome of a rigorous process, conducted by the board with external support, over the last few months\u201d.<\/p>\n
The spirits multinational had considered both internal and external candidates for the top job.<\/p>\n
In its search, Diageo prioritised finding a successor who could \u201cdeliver a return to consistent and sustainable growth\u201d and invigorate its strategy to produce shareholder value in a \u201cpotentially evolving\u201d alcohol landscape.<\/p>\n
\u2018Next successful chapter\u2019<\/p>\n
Diageo chair Sir John Manzoni, who led the search for a new CEO, welcomed Lewis to the company.<\/p>\n
\u201cHaving conducted an extensive and thorough global search, the board unanimously felt that Dave has both the extensive CEO experience, and the proven leadership skills in building and marketing world-leading brands, that is right for Diageo at this time,\u201d Manzoni noted.<\/p>\n
\u201cWe are confident that Dave will work with the team to take Diageo into its next successful chapter in the evolving consumer environment.<\/p>\n
\u201cThe board wishes to recognise and thank Nik Jhangiani for his excellent leadership as interim CEO and for continuing to drive forward Diageo\u2019s sharpened strategy.\u201d<\/p>\n
Joining Diageo in 2024<\/a> as CFO, Jhangiani stepped into the CEO role temporarily following the sudden departure of Debra Crew<\/a> in July this year. Crew became CEO of Diageo in 2023 after the death of Sir Ivan Menezes<\/a>, who had led the business for 10 years.<\/p>\n Former Diageo executive Deirdre Mahlan<\/a> took over the CFO role from Jhangiani in July. She will continue to support the company during the transition period as Jhangiani returns to his former position.<\/p>\n \u00a31.5m salary<\/p>\n Diageo confirmed that Lewis would be paid an annual remuneration of \u00a31.5 million (US$1.98m) and a pension contribution of 14% of the base salary.<\/p>\n Prior to joining Tesco, Lewis worked in several management positions at Unilever, including president of the Americas and global president for personal care.<\/p>\n Lewis is also a non-executive director with PepsiCo and chairman of Xlinks, a renewable energy business. He also serves as chair of the board at non-profit organisation the World Wildlife Fund-UK.<\/p>\n In recognition of his contribution to business and the food industry in the UK, Lewis was knighted in the 2021 New Year\u2019s Honours List.<\/p>\n Diageo recently revised its guidance for fiscal 2026 following flat organic sales for its first quarter<\/a>.<\/p>\n Related news<\/p>\n \n \n
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