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Story summary
- Diageo Plc's shares fell after Chief Executive Officer Dave Lewis announced a turnaround plan, including a dividend cut halved to 20 cents per share and lower sales forecasts.
- The company posted a 4% decline in net sales to $10.46 billion, driven by weak demand in the United States and China.
- It will invest to boost competitiveness and address operational inefficiencies, such as capacity constraints affecting Guinness sales and customer service.
