Diageo Chairman John Manzoni is planning a significant overhaul of the company’s board of directors. He aims to recruit new non-executive directors with deep commercial experience in the drinks and distribution sectors.
The initiative seeks to provide industry-specific expertise to guide and challenge CEO Dave Lewis. Lewis is currently leading a major restructuring of the spirits giant.
The board refresh follows declining sales in North America, which remains Diageo’s largest market. Manzoni is reportedly concerned that current directors lack the specialized knowledge required to oversee the turnaround strategy. Markets have not yet reacted to the reports.