Latest news with #alcoholindustry
CBS News
19-07-2025
- Business
- CBS News
Pennsylvania Rep. Dan Goughnour introduces bill to allow premixed cocktails on tap
A new bill introduced to the Pennsylvania legislature could soon make it easier for bars and restaurants to serve cocktails. State Rep. Dan Goughnour (D-Allegheny) has introduced legislation that would allow businesses with liquor licenses to store premixed cocktails on tap. Current law prohibits licensees from storing premixed cocktails for more than 24 hours due to health and safety standards. However, a new product stores these ingredients safely in kegs, which can be kept on tap, and only requires the addition of alcohol by the licensee, per a media release from the House Democratic Communications Office. "These products have become popular across the nation and can safely hold ingredients for an extended period of time," Goughnour said. "Adopting these new innovations would allow Pennsylvania businesses, from our world-class sports venues to our local taverns, to stay competitive in the alcohol industry." House Bill 1702 would create a legal definition for these products and allow them to be sold to Pennsylvania consumers. Under current law, they are not available in the Commonwealth because they must be discarded within 24 hours, even with a longer and safer shelf life. Rep. Goughnour's bill also touts other advantages, including consistent alcohol content in each drink and improved sanitation compared to hand-poured beverages. The legislation would also help businesses by simplifying tasks like training new employees to serve drinks. Thirty-six other states, including all states that border Pennsylvania except Delaware, currently permit premixed cocktail kegs, the media release added. Goughnour's bill has been approved by the House Liquor Control Committee and is now under consideration in the Rules Committee.
Yahoo
16-07-2025
- Business
- Yahoo
Guinness Owner Diageo's CEO Steps Down as the Alcoholic Beverage Giant Struggles
Key Takeaways Diageo CEO Debra Crew resigned, effective immediately, as the maker of brands including Smirnoff vodka and Guinness beer struggles with weak sales. The company said CFO Nik Jhangiani is taking over on an interim basis. Diageo kept in place its fiscal 2025 and 2026 guidance given in (DEO) CEO Debra Crew resigned Wednesday, effective immediately, as the maker of brands including Smirnoff vodka and Guinness beer struggles with weak sales. In its news release, Diageo gave no reason for Crew's departure, only that it was 'by mutual agreement.' She has led the company since June 2023. The company has struggled during Crew's tenure. The Financial Times, which first reported she was leaving, suggested Crew failed to convince some investors that sales declines were due to cyclical changes, rather than reflecting operational issues or a structural drop in alcohol sales. It noted that Diageo shares have slumped over 40% since she became CEO. Diageo said that CFO Nik Jhangiani will take over on an interim basis. The board 'has begun a comprehensive formal search process, which will include consideration of internal and external candidates," Diageo said. The company added that its guidance for fiscal 2025 and 2026 offered in May remains unchanged. At that time, Diageo said it anticipated new Trump administration tariffs would negatively impact results by $150 million on an annualized basis. The company plans to release fourth-quarter and full-year results on Aug. 5, as scheduled. U.S.-listed shares of Diageo wavered between gains and losses following Wednesday's release. They've lost about one-quarter of their value since the start of the year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
16-07-2025
- Business
- CNN
Guinness owner Diageo's CEO is stepping down after two years
Diageo, the world's biggest spirits maker, announced Wednesday that CEO Debra Crew is stepping down by 'mutual agreement' after just two years in the role. The abrupt change comes amid sluggish sales across the alcohol industry, which has also affected Diageo brands Johnnie Walker whiskey, Casamigos tequila and Guinness beer, as well as the threat of increased tariffs from the United States. In a press release, the London-based company said Crew is leaving with 'immediate effect.' Nik Jhangiani, Diageo's chief financial officer, will become the interim CEO as Diageo conducts a 'comprehensive' search process. Sir John Manzoni, Diageo's board chairman, thanked Crew for 'steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility.' Diageo's stock (DEO) has lost about 44% of its value since Crew became CEO in June 2023. She announced in May a plan that would slash $500 million in costs and potentially sell some brands over the next three years. Several of the biggest booze brands are dealing with a sharp decline in sales following the Covid-19 boon, which prompted some people to stock up their home bar carts. That has forced some companies, like Woodford Reserve maker Brown-Forman, to undergo layoffs. In addition, Diageo has been dealing with its own issues including supplying too much alcohol to its Latin America markets as demand slid and a shortage of Guinness beer at pubs in the United Kingdom. In the United States, its Casamigos and Don Julio tequilas are battling a class action lawsuit accusing them of falsely labeling them as '100% agave.' The company denies the allegations.
CNN
16-07-2025
- Business
- CNN
Guinness owner Diageo's CEO is stepping down after two years
Diageo, the world's biggest spirits maker, announced Wednesday that CEO Debra Crew is stepping down by 'mutual agreement' after just two years in the role. The abrupt change comes amid sluggish sales across the alcohol industry, which has also affected Diageo brands Johnnie Walker whiskey, Casamigos tequila and Guinness beer, as well as the threat of increased tariffs from the United States. In a press release, the London-based company said Crew is leaving with 'immediate effect.' Nik Jhangiani, Diageo's chief financial officer, will become the interim CEO as Diageo conducts a 'comprehensive' search process. Sir John Manzoni, Diageo's board chairman, thanked Crew for 'steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility.' Diageo's stock (DEO) has lost about 44% of its value since Crew became CEO in June 2023. She announced in May a plan that would slash $500 million in costs and potentially sell some brands over the next three years. Several of the biggest booze brands are dealing with a sharp decline in sales following the Covid-19 boon, which prompted some people to stock up their home bar carts. That has forced some companies, like Woodford Reserve maker Brown-Forman, to undergo layoffs. In addition, Diageo has been dealing with its own issues including supplying too much alcohol to its Latin America markets as demand slid and a shortage of Guinness beer at pubs in the United Kingdom. In the United States, its Casamigos and Don Julio tequilas are battling a class action lawsuit accusing them of falsely labeling them as '100% agave.' The company denies the allegations.
CNN
16-07-2025
- Business
- CNN
Guinness owner Diageo's CEO is stepping down after two years
Diageo, the world's biggest spirits maker, announced Wednesday that CEO Debra Crew is stepping down by 'mutual agreement' after just two years in the role. The abrupt change comes amid sluggish sales across the alcohol industry, which has also affected Diageo brands Johnnie Walker whiskey, Casamigos tequila and Guinness beer, as well as the threat of increased tariffs from the United States. In a press release, the London-based company said Crew is leaving with 'immediate effect.' Nik Jhangiani, Diageo's chief financial officer, will become the interim CEO as Diageo conducts a 'comprehensive' search process. Sir John Manzoni, Diageo's board chairman, thanked Crew for 'steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility.' Diageo's stock (DEO) has lost about 44% of its value since Crew became CEO in June 2023. She announced in May a plan that would slash $500 million in costs and potentially sell some brands over the next three years. Several of the biggest booze brands are dealing with a sharp decline in sales following the Covid-19 boon, which prompted some people to stock up their home bar carts. That has forced some companies, like Woodford Reserve maker Brown-Forman, to undergo layoffs. In addition, Diageo has been dealing with its own issues including supplying too much alcohol to its Latin America markets as demand slid and a shortage of Guinness beer at pubs in the United Kingdom. In the United States, its Casamigos and Don Julio tequilas are battling a class action lawsuit accusing them of falsely labeling them as '100% agave.' The company denies the allegations.
