Diageo's chair, Sir John Manzoni, is reportedly planning a significant overhaul of the company's board, according to the Financial Times. Manzoni is said to be unhappy with the current composition of the board, which he inherited, and aims to recruit new directors with extensive commercial experience within the drinks or drinks distribution industries. The motivation behind this shake-up is Manzoni's concern that the existing board lacks sufficient industry knowledge to effectively guide or provide oversight for CEO Dave Lewis's strategic initiatives.
Manzoni's goal is to appoint non-executive directors whose deep understanding and influence in the drinks sector can serve as a vital counterweight to the new CEO, Dave Lewis. Lewis, often nicknamed "Drastic Dave" for his history of aggressive cost-cutting at Tesco and Unilever, has already begun a restructuring of the struggling spirits group. These new board members are expected to challenge Lewis and his reform plans, which include addressing weak sales in North America, Diageo's largest market, through measures such as price cuts on some tequila brands like Casamigos.
Sir John Manzoni was appointed Chair of the Board around February 5, 2025, succeeding Javier Ferrán. Manzoni joined the Diageo Board in October 2020 and has a background that includes being Chief Executive of the UK Civil Service and serving as a non-executive director for SAB Miller plc. The search for commercially knowledgeable directors is seen as vital to ensure robust governance and provide strong industry insight for the company as it navigates a challenging business environment, particularly in North America where sales have seen declines.
