Diageo boss Lewis must convince sceptics as he unveils big reset on Thursday Proactive uses images sourced from ShutterstockDiageo PLC (LSE:DGE) faces a difficult task convincing investors that its turnaround can revive sales without sacrificing profitability when it reports annual results and presents its new strategy on Thursday, according to JPMorgan. Eight months after taking charge, chief executive Dave Lewis is expected to outline a reset aimed at making the Johnnie Walker and Smirnoff maker more competitive as it enters the 2027 financial year. Pannuti is less worried than the market about deep, broad-based price cuts but sees persistent volume weakness as the bigger concern. She estimates Diageo could identify $1 billion of gross cost savings to fund investment without requiring a major reset to margins. For the 2027 financial year, the JPMorgan analyst expects Lewis to give cautious guidance on revenue returning to growth, against consensus forecasts of a 1.6% increase.