Recent Updates — DEO
Diageo plc has published a press release containing restated historical regional financial results for the fiscal years ended June 30, 2025, and June 30, 2026. The restatement aligns the company's external reporting with its new market and regional operating framework that became effective in fiscal year 27. This filing serves as a notification of the publication of these updated financial figures to investors.
Diageo announced that Joanne Wilson will join as Chief Financial Officer and to the Board and Executive Committee in 2027, replacing Nik Jhangiani. Wilson currently serves as CFO of WPP plc and brings prior experience at Britvic, dunnhumby, Tesco, and KPMG. Jhangiani, who joined Diageo in September 2024 and served as interim CEO from July to December 2025, will remain in his role temporarily to ensure a smooth transition. Wilson’s compensation includes an annual salary of £900,000, a 14% pension contribution, and incentive opportunities up to 200% of base salary with long-term incentives capped at 550%. Diageo operates as a global leader in the beverage alcohol industry, producing spirits and beer brands such as Johnnie Walker, Smirnoff, and Guinness.
Diageo hosted a Capital Markets Day on August 6, 2026, outlining its turnaround strategy and fiscal 27 guidance. The company expects broadly flat organic net sales growth in fiscal 27, with North America down mid-single-digit, while organic operating profit is projected to grow low-to-mid-single-digit. This outlook includes approximately c.$400 million in cost savings from an operating framework redesign and supply chain initiatives. Diageo anticipates free cash flow of c.$2 billion after c.$850 million in exceptional restructuring costs. Over the medium term (fiscal 27-29), the company targets low-single-digit organic net sales growth, mid-single-digit operating profit growth, and cumulative free cash flow of c.$8 billion. Diageo operates as a global leader in beverage alcohol, producing spirits and beer brands such as Johnnie Walker, Guinness, and Smirnoff.