Diageo, the company that owns Guinness, Smirnoff, Johnnie Walker and more than 200 drinks brands worldwide, has announced a major reset after a tough couple of years in which its profits have fallen and its share price has struggled. British businessman Sir Dave Lewis has been brought in to steer a turnaround, including a $1bn savings plan over the next three years. Known as &quot;Drastic Dave&quot; for cost-cutting at other companies, can he revive growth as more consumers drink less alcohol or switch from global brands to local ones?<br>Presenters: Will Bain and Rahul Tandon<br>Producer: Gideon Long<br>(Picture: People drink Guinness at The Devonshire pub in Soho, London. Credit: REUTERS/Hollie Adams)

Power Players: What's next for Guinness owner Diageo?

Business Daily

Hello and welcome back to Power Players from Business Daily. Now, is your favourite tipple among this lot?

If whiskey could talk, Johnny Walker Black Labels would sing. Yeah, the company behind all of those massive drinks brands and dozens more is Diageo and we're looking at it today because after poor sales and a falling share price, it's only gone a bit of a reset under a relatively new boss whose nickname is Drastic Dave. So today, can a drastic touch get a drinks giant growing again?

Yeah, welcome back to the programme. Will Bain again with you here today in the UK. I'm Rahul Tandon, also in the UK, but in a different studio from me. And today we are joined from Montana in the United States by Kate Burnott. Kate is a journalist, consumer insight analyst at Feel Goods Insight, a drinks industry newsletter, knows Diageo well. The US accounts for up to 40% of Diageo sales as well, so an important bit of the story today.

Kate, morning to you. Very early to be talking favourite booze, as I know, but have you got a Diageo tipple among your favourites there? Is there a bestseller in the United States or in North America from their range? Well, given that it's morning for me, it does feel like I should have some Baileys in my coffee, but I think it'll be a Guinness for me. I was going to say, Mr. Tandon, I think you're probably on that stretch as well. Well, I've got to be honest with you, when you played that montage, I want them all. It's a hot day.

Power Players: What's next for Guinness owner Diageo?

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Power Players: What's next for Guinness owner Diageo?

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.