Diageo Chairman John Manzoni is planning a significant overhaul of the company's board. He aims to appoint new non-executive directors with deep commercial experience in the drinks and distribution sectors.
The move introduces industry-specific knowledge to oversee CEO Dave Lewis during his business restructuring. Manzoni intends for the new directors to challenge Lewis’s aggressive cost-cutting and restructuring strategies.
The initiative addresses concerns that the current board lacks the expertise to manage a strategic turnaround. The board specifically seeks to reverse weak sales performance in the critical North American market. A Diageo spokesperson stated the chairman is continuously working to strengthen the board’s skillset to improve shareholder returns.