Diageo trims costs to lift profits; Sir Dave Lewis leads a top brewer as it seeks a turnaround for Guinness’s owner.
Diageo has announced a broad restructuring to cut costs and boost profits, targeting roughly $1.0 billion in cost savings this year and a further $0.15 billion in supply-chain savings. The plan follows a year of weaker North American sales and a dividend reduction, with shares rising on the news.