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Diageo chair seeks heavyweight board members

Financial Times Companies •
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Diageo’s chair Sir John Manzoni is planning a board shake‑up to add “heavyweight” drinks‑industry experience as the group faces a historic downturn in spirits demand. He wants new non‑executive directors with commercial background in spirits or distribution, expertise that both he and CEO Sir Dave Lewis lack. The current 11-person board has only one former spirits executive, ex‑Rémy Cointreau boss Valérie Chapoulaud‑Floquet.

Manzoni said he isn’t happy with the board he inherited and seeks directors who can challenge Lewis as he pushes an aggressive overhaul, including cost cuts, price reductions on brands like Casamigos tequila, and a push into ready‑to‑drink beverages. Lewis will unveil his turnaround strategy at the full‑year earnings event on August 6, aiming to revive sales amid fears of structural decline in the sector.

The chair also wants directors whose clout could act as a counterweight to Lewis if needed, though he still prefers Lewis to move fast rather than slow. Lewis, a former Tesco and Unilever executive nicknamed “drastic Dave”, is Diageo’s third CEO in under three years, following the long tenure of Sir Ivan Menezes and the brief stint of Debra Crew. Manzoni previously served on SABMiller’s board from 2004‑2015 before becoming UK civil service chief.