Published on
07/08/2026 - 9:15 GMT+2
Dave Lewis, Diageo's new chief executive, announced a $1 billion (€870m) cost-cutting and restructuring plan on Thursday, turning to aggressive cuts to address lagging growth as the drinks giant braces for slower demand in the years ahead.
The company now expects low-single-digit organic net sales growth until the 2029 financial year, down from a previous medium-term target of 5% to 7% growth.
Investors welcomed the plan as a sign that Lewis was taking concrete, proactive steps to address years of stagnant or declining sales. Diageo owns a number of brands, including Johnnie Walker, Guinness and Smirnoff.
