Diageo sells assets as new leadership tackles profit decline

Diageo, the world's biggest spirits company, is selling assets and changing its strategy after a difficult two years. The company makes Johnnie Walker whisky, Smirnoff vodka, and Guinness, among other well-known brands. Its share price has fallen by more than half since early 2022, when Diageo was worth nearly £90 billion. The company replaced its chief executive in July after sales dropped for the first time since the pandemic. It has already sold an Indian cricket team for £1.4 billion. It may also sell its shares in a Chinese spirits producer and its 34% stake in Moët Hennessy. Diageo has also dropped a long-term sales target because of new trade tariffs introduced after Donald Trump returned to the White House in 2025.