Diageo appoints former Tesco boss as new CEO
Sir Dave Lewis, will replace Debra Crew as the new CEO of Diageo
The former Tesco leader Sir Dave Lewis, will replace Debra Crew as the new CEO of Diageo.
For the past five months, Diageo has been looking to replace Crew who left suddenly in July. Finance director Nik Jhangiani has been running the business on an interim basis but he will revert to the finance role when Lewis joins the company.
Lewis, 60, ran Tesco for six years up to 2020, during a period of recovery for the retailer. He also spent almost three decades at Unilever, where he held executive committee roles overseeing marketing and business performance.
During his tenure at the helm of Tesco, the shares gained more than 50% and Diageo will be hoping that he can repeat that success for them.
Last week, the effective profit warning with the first quarter results sent the shares to a 10 year low.
The news that Lewis is taking the Diageo top job sent them up by almost 8% in early trading in London today, recouping the ground lost last week when there was no news of an apointment.
