Diageo Shares Sink on Cuts to Guidance, Dividend as New Boss Sets Sights on Turnaround

Diageo is home to brands such as Guinness, Johnnie Walker and Smirnoff Vodka. - CLODAGH KILCOYNE/REUTERS Diageo shares fell after the Guinness maker cut its guidance for the year on weakness in the U.S. and slashed its dividend to help fund the turnaround plan of Chief Executive Officer Dave Lewis. Home to brands like Johnnie Walker and Smirnoff, Diageo has been beleaguered by sales weakness over the past two years, as price inflation bites into consumers’ spending power and growing health consciousness ...