Sir Dave Lewis has been appointed as the new chief executive officer (CEO) at Diageo, effective from 1 January.

The group, which owns drinks brands including Guinness, Smirnoff and Captain Morgan, said that Lewis has an "outstanding track record" leading global consumer businesses.

He previously served as CEO at Tesco between 2014 and 2020, after spending almost three decades at Unilever, latterly in executive committee roles, where he led on both marketing and business performance.

Lewis has also served as the chair at Haleon since its creation in 2022, and will step down from the role on 31 December.

He was knighted by Her Majesty Queen Elizabeth II in the 2021 New Year’s honours list, in recognition of his contribution to business and the food industry in the UK.

Diageo’s interim CEO, Nik Jhangiani, will resume his chief financial officer position in the new year.

Following the announcement, shares in Diageo increased by over 7%.

It comes after the drinks firm lowered its sales expectations for the full year last week, leading to its share price dropping by 5%.

Chair at Diageo, 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 concluded: "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."

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