Sir Dave Lewis to shed light on plans to turn around Guinness maker Diageo

New Diageo boss Sir Dave Lewis is set to unveil his ambitions for the company after being handed the reins of the Guinness maker to turn around its fortunes.

Investors will be hopeful the former Tesco boss, well known for driving a renaissance at the supermarket chain following an accounting scandal, will steer the drinks and spirit giant to an improved performance.

He will unveil the group’s half-year results on Wednesday in his first update since being appointed as chief executive in January.

He has taken the role, which was filled on an interim basis by finance chief Nik Jhangiani in the latter half of 2025, after previous chief Debra Crew abruptly left the business in July.

Diageo – which also makes Gordon’s gin, Johnnie Walker whisky and Baileys – saw its share price wane under Ms Crew amid a slowdown in sales.

The company has already seen its share price tick 13% higher so far this year amid hopes the new boss will drive stronger profits.

In its previous update in November, Diageo cautioned over weaker demand from consumers in China and the US, with bosses saying they were “not satisfied” with its financial performance.

The group reported net sales of 4.9 billion US dollars (£3.75 billion) between July and September, down 2.2% from five billion (£3.83 billion) the prior year.

It is among a raft of alcoholic drink companies to have pointed towards cautious trading as consumers drink less globally.

Investors will be keen to see what Sir Dave’s strategy is to revive sales given this backdrop.

He is also expected to focus on Diageo’s cost-cutting efforts. The company is already in the process of a 625 million dollar (£463.6 million) savings drive.

The Financial Times reported on Friday that the new boss is planning a major shake-up of his executive team to drive his overhaul.

Analysts at Jefferies have suggested that Sir Dave may look to accelerate the cost-saving programme and will also provide “fresh eyes to unlock further efficiencies”.

The brokerage predicted that Diageo will report a 2.6% fall in organic sales over the half-year to December, indicating a slump in the latest quarter after a broadly flat first quarter.

Nevertheless, the group’s Guinness brand continue to perform strongly, with analysts indicating it is likely to be a core part of Sir Dave’s strategy.

Richard Hunter, head of markets at Interactive Investor, said: “Apparently exempt from the concerns seen elsewhere by geography, habits or price, the stout produced sales growth of 12% last year, with double-digit hikes established for the fifth consecutive year.

“Guinness also gained share in its three largest markets, while the availability of a no-alcohol version has opened up an entirely new potential area of growth.

“It is therefore of little surprise that the group was quick to quash any previous rumours that the brand was being prepared for a spin-off.”