Diageo (DEO) Chief Executive Officer Dave Lewis is planning to streamline the company's regional management teams as part of his turnaround plan, Bloomberg reported Wednesday, citing people familiar with the matter.

Affected staff will be informed by mid-May and the new organizational structure is expected to be put in place by H2, according to the report.

Diageo will update all stakeholders on the progress of its turnaround during Q3, a company spokesperson told MT Newswires in an emailed response.

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