Diageo CEO Dave Lewis Orders Job, Cost Cuts Amid Restructuring (DEO)

Diageo's new CEO, Dave Lewis, has reportedly directed executives to implement job and cost reductions as part of a restructuring effort for the struggling spirits group. The Financial Times reported on June 17, 2026, that Lewis aims to revitalize the company by aggressive cost-cutting measures. Lewis, previously nicknamed "Drastic Dave" for similar actions at Tesco and Unilever, has set specific cost-reduction targets for members of Diageo's executive committee. The report, citing familiar sources, indicates these targets focus on overall cost reduction rather than a fixed number of roles to eliminate. Diageo (DEO) is undergoing significant changes under its new leadership.