REG - Diageo PLC - Sir Dave Lewis appointed Diageo plc CEO

DiageoAnnouncement

10/11/2025 07:00

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RNS Number : 8436G  Diageo PLC  10 November 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Sir Dave Lewis appointed Diageo plc CEO

Monday 10 November 2025, London, UK

The Board of Directors of Diageo plc ("Diageo") has today appointed Sir Dave
Lewis to the role of Chief Executive Officer and Executive Director, effective
on 1 January 2026.

Dave is a proven CEO with extensive marketing and brand building experience.
He has an outstanding track record leading global consumer businesses, growing
world-class brands, and providing operational and financial rigour. Dave
served as Group CEO of Tesco plc from 2014 to 2020, where he transformed the
business and, prior to this, spent nearly three decades at Unilever, latterly
in Executive Committee roles, leading on both marketing and business
performance. Additionally, Dave has been the Chair of Haleon, a global leader
in consumer healthcare, since its creation in 2022 and is a non-executive
board director of PepsiCo Inc. Dave will be stepping down from the Haleon role
on 31 December 2025.

Sir John Manzoni, Diageo's Chair, who led the succession process on behalf of
the board, said: "We are delighted to welcome Dave as Diageo's new CEO. Having
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."

Manzoni continued: "We are confident that Dave will work with the team to take
Diageo into its next successful chapter in the evolving consumer environment.
The Board wishes to recognise and thank Nik Jhangiani for his excellent
leadership as Interim CEO and for continuing to drive forward Diageo's
sharpened strategy."

Sir Dave Lewis, Chief Executive Officer, said: "Diageo is a world leading
business with a portfolio of very strong brands, and I am delighted to be
joining the team. The 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."

Dave is also a Trustee for The Royal Foundation and the Chair of the World
Wildlife Fund in the UK. In recognition of his contribution to business and
the food industry in the United Kingdom, Dave was knighted by Her Majesty
Queen Elizabeth II in the 2021 New Year's Honours List.

Nik Jhangiani will continue as Interim CEO until the end of December 2025 and
then resume his CFO role thereafter. Deirdre Mahlan, having returned to Diageo
as Interim CFO, will continue to support Diageo through the transition.

There is no further information required to be disclosed in accordance with UK
Listing Rule 6.4.8(R).

Randall Ingber, General Counsel & Company Secretary, is responsible for
arranging the release of this announcement on behalf of Diageo.

ENDS

For further information, please contact:

 

Media relations:

Rebecca
Perry
07590 809101

Clare
Cavana
07751 742072

press@diageo.com
 
      07803 856 200

 

Investor relations:

Sonya Ghobrial
 
    07392 784784

Andy
Ryan
07803 854842

Grace
Murphy
07514 726167

investor.relations@diageo.com

 

Notes to editors:

1.    Summary of appointment process and arrangements in relation to
Directorate changes

Appointment process and transition

The announcement of Diageo's new CEO reflects the outcome of a rigorous
process, conducted by the Board with external support, over the last few
months. The process considered both internal and external candidates. The
Board examined all candidates against its priorities that the new CEO must be
able to deliver a return to consistent and sustainable growth, refresh the
strategy to deliver shareholder value in a potentially evolving TBA landscape
and understand and deliver for our customers and consumers - both for today
and into the future.

Remuneration arrangements in relation to Sir Dave Lewis

Full details of Dave's future remuneration will be included in the Directors'
Remuneration Report for the year ending 30 June 2026, following his
appointment to the Board.

Dave's remuneration package will include an annual salary of GBP
1,500,000 and a pension contribution (or allowance in lieu) of 14% of base
salary. He will also have an annual incentive plan opportunity, bonus
deferral, long-term incentive plan opportunity and shareholding requirement as
an Executive Director in accordance with Diageo's remuneration policy, as
approved by shareholders.

2.    Sir Dave Lewis biography

Sir Dave Lewis joins Diageo from Haleon Plc, where he has been Chair since
2022, having joined from Tesco Plc, a multinational retailer, where he served
as Group Chief Executive Officer of Tesco plc, from 2014 until September 2020.

 

Prior to joining Tesco, he served for 28 years in a variety of management
positions with Unilever plc, a global consumer products company. His last two
roles, President Americas and Global President for Personal care were on the
Global Executive team.

 

Dave is a non-executive director with PepsiCo and Chairman of Xlinks, a
privately owned renewable energy business. He is also a Director of A Birds
Eye View and Operating Advisor of CD&R LLP. Dave also serves on the board
of a non-profit and charitable organisation as Chair of the World Wildlife
Fund-UK. Previously, he served on the Sky plc Board from 2012 to 2016 and was
also chair of Champions 12.3, a UN programme seeking to add momentum to the
achievement of the UN Sustainable Development Target 12.3 by 2030, and
co-chair of the Consumer, Retail and Life Sciences Business Council, which was
established to advise the Prime Minister of the United Kingdom.

 

In recognition of his contribution to business and the food industry in the
United Kingdom, Dave was knighted by Her Majesty Queen Elizabeth II in the
2021 New Year's Honours List. He is also appointed as Trustee of the Royal
Foundation of the Prince and Princess of Wales.

Dave is married and has two daughters.

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection
of brands across spirits and beer categories. These brands include Johnnie
Walker, Crown Royal, J&B and Buchanan's whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in nearly 180 countries
around the world. The company is listed on both the London Stock Exchange
(DGE) and the New York Stock Exchange (DEO). For more information about
Diageo, our people, our brands, and performance, visit us at www.diageo.com.
Visit Diageo's global responsible drinking resource, www.DRINKiQ.com for
information, initiatives, and ways to share best practice.

Celebrating life, every day, everywhere.

 

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