‘Hard work ahead’: Diageo shares soar as Drastic Dave’s cost savings lift investor spirits

Diageo shares jumped as much as eight per cent on Thursday after the London drinks giant vowed to deliver as much as $850m (£631m) in cost savings, as new boss Dave Lewis vowed to turn around the firm’s fortunes. The FTSE 100 owner of Guinness, Johnnie Walker and Tanqueray reported a three per cent dip…

Ex-Tesco boss known as ‘Drastic Dave’ for his cost-cutting zeal pledges more of the same at flagging Guinness owner Shares in Diageo have bounced after the Guinness owner’s chief executive, “Drastic Dave” Lewis, passed the first big test of his plan to revive the flagging fortunes of the UK-based drinks company. Lewis,

Dave Lewis, the former Tesco chief executive known as 'drastic Dave', will provide some clarity on his strategy, after reports that staff have been told of plans for considerable cuts.