Diageo to double Guinness production and shed jobs in turnaround plan

New CEO Dave Lewis lifts investors’ spirits by promising strategic overhaul worthy of his nickname ‘Drastic Dave’ Diageo’s new chief executive has unveiled plans to double Guinness production while hacking back a “significant” proportion of its 30,000-strong workforce, in a strategic overhaul worthy of his nickname, “Drastic Dave” Lewis. Shares in Diageo bounced on Thursday, as the former Tesco boss faced down the first big test of his first half-year in the job, after being parachuted in last November to revive the flagging fortunes of the UK-based drinks company. Continue reading...