London: In a move that signals a potential shift in its long-standing leadership approach, Diageo Plc, the global beverage titan behind brands like Johnnie Walker, Guinness, and Smirnoff, is reportedly considering external candidates for its next Chief Executive Officer. According to the Financial Times, one of the most prominent names under review is Emma Walmsley, the outgoing CEO of pharmaceutical giant GlaxoSmithKline (GSK).
The reported development comes amid a period of uncertainty for Diageo, which has faced sluggish sales in major markets and profit headwinds from volatile exchange rates. Current CEO Debra Crew, who took charge in 2023 following the sudden death of long-time leader Sir Ivan Menezes, has struggled to sustain the company’s post-pandemic growth trajectory.
While Crew remains in office, Diageo’s board is said to have initiated a comprehensive succession process that includes internal and external candidates. The decision to look beyond the company’s existing executive circle underscores a strategic reassessment within Diageo’s top ranks one aimed at reinvigorating growth and responding to shifting consumer dynamics.
At the center of speculation is Emma Walmsley, whose seven-year tenure at GSK is widely recognized for corporate reform, portfolio realignment, and a strong commitment to innovation. Walmsley announced earlier this year that she would step down from GSK, prompting industry watchers to speculate on her next move.
Her name being linked with Diageo has drawn considerable interest from investors and analysts alike. Walmsley’s reputation as a disciplined and forward-thinking leader, with experience managing a global workforce and navigating complex regulatory environments, positions her as an attractive prospect for Diageo’s evolving business model.
Diageo has recently encountered a dip in consumer demand in Latin America and parts of Africa, along with inflationary pressures and supply chain constraints affecting margins. The company’s mid-year financial statements showed modest recovery in North America and Europe, but overall global growth remains subdued.
Analysts argue that these challenges have prompted the board to seek a leader with broad strategic vision and operational resilience, someone capable of steering the firm through economic turbulence and market transitions. The consideration of an external candidate like Walmsley reflects Diageo’s willingness to break from its historical pattern of internal succession and embrace a more global, cross-sector leadership perspective.
Beyond financial performance, Diageo is also grappling with the increasing weight of environmental, social, and governance (ESG) expectations. The company has pledged to achieve carbon neutrality in operations by 2030, advance water conservation in key regions, and ensure gender parity in leadership roles.
A leader such as Walmsley who has consistently championed diversity, ethics, and sustainability could bolster Diageo’s ESG standing while appealing to socially conscious investors. “Bringing someone like Walmsley on board would mark a strategic modernization of Diageo’s executive culture,” said a London-based corporate governance expert. “It would also send a strong message about continuity in values, even amid change.”
Industry observers suggest that Diageo’s CEO decision could define the company’s direction for the next decade. As global consumers increasingly gravitate toward low-alcohol beverages, premiumization, and health-conscious choices, the incoming CEO will have to balance brand heritage with innovation.
The company has not made any official statement confirming candidates or timelines, but insiders suggest that an announcement may come in early 2026 after the board’s internal review. Whatever the outcome, the search underscores Diageo’s recognition that leadership renewal may be essential to maintaining its position as the world’s leading premium drinks company in a rapidly transforming global market.