$DEO

Diageo's headcount fell 6% year-over-year to 27,938 by June 2026, as new CEO Dave Lewis leads a restructuring. The company plans $1 billion in savings, including job cuts and price reductions. Meanwhile, Kenya's competition regulator proposes a 15 billion shillings reserve for Diageo's sale of its EABL stake to Asahi, which Diageo disputes.

Diageo's headcount fell 6% year-on-year to 27,938 by June 2026, according to its annual report. The company is restructuring under CEO Dave Lewis, with most cuts expected to be completed by September. Diageo plans to lower prices on some brands and expand in fast-growing categories as part of a $1 billion savings plan. Irish media reported potential job cuts affecting around 150 roles in Ireland.

Bernstein rates four global beer companies “outperform” despite weak U.S. beer volumes. Nielsen data for 12 weeks to 8-Aug-26 show industry volumes down 6% YoY, linked to gas prices. AB InBev, Constellation, Diageo, and Heineken are cited for share gains and brand execution, with specific share/brand moves reported.

Diageo agreed with India’s food regulator FSSAI to change recipes for some whisky and rum products after the regulator banned certain sales over flavouring and age-claim compliance, according to Reuters sources. FSSAI said it would lift the ban if conditions are met. The dispute also involved United Spirits and other firms’ brands.

India’s FSSAI ordered a halt to sale of 10 alcohol variants from specific facilities of Diageo India’s United Spirits, Inbrew Beverages, and Mohan Rocky Springwater, citing lab findings of artificial flavouring to mimic rum/whisky and misleading age claims. The ministry said the issue is standards and labeling compliance. Affected products include Old Monk, McDowell’s No. 1 Rum, Antiquity Blue, Royal Challenge, Bagpiper Deluxe, and others.

Diageo agreed to reformulate key whisky and rum brands in India after FSSAI action, Reuters reported. The company will remove added whisky and rum flavorings from Antiquity Blue and Royal Challenge, and McDowell’s No. 1 Celebration Matured XXX Rum, and update front labels. The changes are set to apply nationwide, potentially easing state sales bans/restrictions.

Diageo said it will appoint Alex Keith, former CEO of Procter & Gamble’s Beauty business, as a non-executive director on 5 Nov 2026, pending shareholder approval. Keith has 35+ years in consumer goods and has served as a Thermo Fisher Scientific non-executive director since 2020. The move follows Diageo’s $1.2bn restructuring targeting $850m savings.

Reuters reports Diageo agreed with India’s food safety regulator to reformulate some whisky and rum brands after bans in certain states over alleged improper flavour additions. The regulator will lift the bans on that basis, covering products including Antiquity Blue, Royal Challenge, and McDowell’s No. 1 Celebration Matured XXX Rum. Diageo’s India unit and the regulator did not comment.

Diageo India, via its listed subsidiary United Spirits, will reformulate Royal Challenge, Antiquity Blue and McDowell’s No.1 Rum after India’s FSSAI objected to added flavouring substances that replicate whisky or rum. Diageo said changes will be made within three months, following FSSAI action that barred some products and allowed a transition period for existing stocks.

Kenya’s Competition Authority (CAK) has demanded a $115m reserve in Diageo’s planned sale of its 65% stake in East African Breweries (EABL) to Asahi, citing potential liabilities and third-party claims, delaying the deal. Diageo said the conditions have “no basis” and are unrelated. Diageo agreed to sell for about $2.3bn in Dec 2025 amid court challenges.