Diageo's new CEO Dave Lewis has unveiled a $1 billion (€870 million) restructuring plan, turning to aggressive cost-cutting in order to reset performance as the world's top spirits maker anticipates years of low growth. Investors welcomed the overhaul as a sign that Lewis was moving quickly to tackle years of stagnant or falling sales. Lewis, who joined Diageo in January, will lay out more details of his plan later on Thursday. North America ChallengeDiageo, which also makes Smirnoff vodka and Captain Morgan rum, forecast low-single digit organic net sales growth through its 2029 financial year. Diageo also reported a 2% drop in organic sales for the year ended 30 June, in line with estimates, and forecast flat annual sales for fiscal 2027.