Diageo has announced the appointment of Sir Dave Lewis as its new CEO and Executive Director, effective on 1 January 2026. 

The move follows Diageo releasing its Q1 FY26  results last week, which revealed flat organic net sales, while reported net sales for the quarter declined by 2.2% to $4.9 billion.

Diageo interim CEO Nik Jhangiani said the company was “not satisfied with our current performance and are focused on what we can manage and control; acting with speed to drive efficiencies, prioritising investment and adapting more quickly to an evolving consumer environment.”

Lewis was described by the Diageo Board as a proven CEO with extensive marketing and brand building experience.

The company said he had an outstanding track record leading global consumer businesses, growing world-class brands and providing operational and financial rigour.

Lewis 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.

Diageo Chair Sir John Manzoni 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.

“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.”

Lewis 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.”

Lewis 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.