Tequila's "Tito's moment" comes for Casamigos—and Diageo

Editor’s note: I’m still looking to speak with suppliers and current RNDC employees about overdue payments from the wholesaler. Please get in touch.—Dave.

This morning, Fingers broke the news of high-level executive departures at Diageo, the British spirits conglomerate. The shakeup follows the British spirits conglomerate’s termination of its American hospitality-team contract, which the boozeletter was first to report earlier this year. If you’re a current Diageo employee, please leak to me, here’s how, thank you.

That Diageo is in deep shit is not surprising. When its previous chief executive, Debra “The Premiumization Will Continue Until The Stock Price Improves” Crew, was shown the door last summer, the company’s board filled the position with Dave Lewis, who is known to the British business press as “Drastic Dave” for his comfort wielding the corporate carving knife. Industry insiders and financial analysts alike expected its new head honcho to make big moves to deliver Large D (nobody calls it this) from its post-pandemic hangover and back to sturdy growth. Lewis is already rocking the boat. But when he told analysts on Diageo’s better-than-expected, still-not-good-enough earnings call last week that the company was looking at cutting prices on Casamigos, that felt more like a tectonic shift than a passing wave.

Tequila’s “Tito’s moment” has been in force for a couple years at this point. Now, it’s come for Casamigos in earnest.

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