Diageo CEO gains reprieve as rival merger talks collapse
The collapse of talks between Pernod Ricard and Brown-Forman offers Diageo CEO Dave Lewis a reprieve. He must now focus on fixing weak sales and high debt.
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DIAGEO PLC CEO Dave Lewis gained strategic breathing room after merger talks between rivals PERNOD RICARD SA and BROWN-FORMAN CORP-CLASS B collapsed. The failed deal prevents a $17 billion competitor from narrowing the gap with Diageo's $20.25 billion annual revenue. Lewis must now address falling sales and poor service levels to reverse years of share price underperformance.
