Diageo’s $1.2B Restructuring Program, Plus North America Turnaround Plans 

Dear Client:  This morning Diageo released its full year fiscal 2026 results, but what's most newsworthy is the $1.2 billion, two-year restructuring program that's currently underway. THE RESTRUCTURE PROGRAM. Diageo chief Dave Lewis outlined a significant global restructuring plan on this morning's earnings call.  The majority of the plan relates to changes made to the operating framework– indeed, that's $1.1 billion of the $1.2 billion planned. The other $100 million relates to the supply chain. And they'll just about break