Diageo boss ‘drastic’ Dave Lewis eyes £20m pay deal as 2,000 jobs slashed Hospitality Diageo boss Sir Dave Lewis could take home as much as £20m in pay for the next year, it has emerged, while the drinks giant sheds 2,000 staff. The chief executive of the Guinness and Smirnoff maker could make as much as £20m in the year to June 2027, though he is more likely to [...]
Will Drastic Dave live up to his name at Diageo? Retail Putting the finishing touches to Diageo’s annual report, Sir Dave Lewis may be channelling the old slogan of the drinks giant’s prize brand, Guinness: ‘Good things come to those who wait’. Since Lewis began his tenure as chief executive of the FTSE 100 firm on New Year’s Day, investors have heard very little from him. [...]
Scotch whisky sales are falling, but what’s really behind the decline? Whisky Whisky Business, City AM’s whisky supplement. The Scotch whisky sector and indeed the wider spirits market have faced a challenging six months, marked by a wave of negative headlines that have painted a bleak picture of the industry’s health. At the beginning of the year, data from restructuring firm BTG warned nearly one in five of [...]
Tiktok pledges three-stage age checks as it pilots alcohol sales July 22, 2026 Tiktok will strictly enforce age checks to block under-18s from buying or even viewing alcohol on Tiktok Shop, City AM understands, as it expands into one of retail’s most tightly regulated categories. The social media giant said its ecommerce platform is strictly for adults and that alcohol sales are being piloted only with a small [...]
Terry Smith dubs weight-loss giant Novo Nordisk ‘investment disaster’ July 7, 2026 Star stockpicker Terry Smith has dubbed weight-loss giant Novo Nordisk an “investment disaster” less than two years after he dumped his entire Diageo stake over fears that GLP-1 users would ditch alcohol. The veteran investment manager, who runs the Fundsmith Equity fund, has said that he regrets his investment in the Danish pharmaceutical firm. “Novo [...]
Analysis: Could £1bn IPL RCB cricket windfall begin Diageo’s comeback? March 20, 2026 It’s been a tough few months for Diageo – and a tough few years for Diageo shareholders. The London-listed drinks giant has seen its share price melt away amid a slump in demand for premium spirits, rising production costs and a flurry of tariffs from across the pond. The stock is already down by an [...]
Not-so-drastic Dave: Diageo boss defies expectations of slash-and-burn reign February 25, 2026 ‘Drastic Dave’ Lewis, who gained a reputation for cost-cutting and ruthless rationalisation during his time at Unilever and Tesco, was more ‘demure Dave’ when announcing Diageo’s first results of his tenure as chief executive. The spirits giant has been struggling in recent years, with its share price down 22 per cent year-on-year – and Lewis’ [...]
Diageo slashes dividend as ‘Drastic Dave’ takes charge February 25, 2026 Guinness maker Diageo has slashed its dividend as the cost-cutting regime of new chief executive ‘drastic’ Dave Lewis begins to take hold, prompting a share price spook. The board announced the “difficult” decision to cut its dividend to 20 cents to “accelerate the strengthening” of its balance sheet in its interim results, the first financial [...]
‘Drastic’ Dave to serve up new vision for Guinness maker Diageo February 22, 2026 It’s been a rocky 12 months for drinks titan Diageo and Sir Dave Lewis will be looking to cure the firm’s long-running hangover when he serves up his future vision next week. Diageo’s stock has tumbled over 15 per cent in the last 12 months with a notable drop in November after operating profit growth [...]
Diageo, Burberry rally after Trump tariff ruling February 20, 2026 Shares in two of the FTSE 100’s biggest retailers rallied on Friday afternoon after it was revealed President Trump’s sweeping global tariff regime had been struck down by the top US court. Burberry shares ended the day’s trading session up 3.2 per cent to 1,212p, while Diageo jumped 3.9 per cent to 1,851p after the [...]