‘Hard work ahead’: Diageo shares soar as Drastic Dave’s cost savings lift investor spirits

Diageo shares jumped up to eight per cent after CEO Dave Lewis, known as Drastic Dave, announced a restructuring plan to revive the firm. The FTSE 100 owner of Guinness, Johnnie Walker, and Tanqueray aims to deliver between $850m and $1bn in cost savings over two years. Despite a three per cent dip in reports, investors reacted positively to the former Tesco boss's zeal for cost-cutting and his strategy to make the company more agile.