‘Hard work ahead’: Diageo shares soar as Drastic Dave’s cost savings lift investor spiritsDiageo boss Dave Lewis is known as ‘Drastic Dave’ for his turnaround effortsDiageo shares jumped as much as eight per cent on Thursday after the London drinks giant vowed to deliver as much as $850m (£631m) in cost savings, as new boss Dave Lewis vowed to turn around the firm’s fortunes. But the company said it expected to stem the decline in sales next year while the savings would deliver rising profit. Boss Dave Lewis, known as ‘Drastic Dave’ for his turnaround efforts at previous firms including at Tesco, vowed to build “a more agile and competitive operating framework” focusing on “customer, customer, customer.” Chris Beauchamp, Chief Market Analyst at investing and trading platform IG, said “desperate times call for desperate measures” and Lewis was delivering on his mandate. “Now comes the hard part, convincing and then showing investors that the turnaround plan is going to pay off.”