Diageo's Drastic Overhaul Sparks UK Corporate Reshuffle as FTSE Giants Cut, Consolidate and Brace for Oil Shock

FTSE 100 heavyweight Diageo has launched the most aggressive corporate overhaul the London market has seen this year. Sir Dave Lewis — the turnaround artist nicknamed "Drastic" — is driving an $850m (£631m) cost-cutting plan that's already slashed nearly 2,000 headcount to 27,938 employees, a 6% reduction. Shareholders are backing him: the new long-term incentive scheme, which could pay Lewis up to £20m if Diageo's share price climbs 50%, was shaped after...