Sliding sales, ‘Drastic Dave’ and job cuts: what is going on at Diageo?

The drinks giant’s new chief, nicknamed ‘Drastic Dave’, is trying to revive the business after it revealed weaker sales and profits for the past year.

The Simple Framework Behind ‘Drastic Dave’s’ Diageo Strategy  WSJ

Diageo has positioned itself as a luxury goods firm with great brands. Not just Johnnie Walker and Guinness, but Casamigos Tequilas, and much more.

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…