UK spirits group Distil has appointed former Diageo executive David Smith as its new CEO.
The move forms part of a broader set of board changes at the owner of Blackwoods gin and vodka.
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Executive chairman Don Goulding, who is retiring. is stepping down from the board on 14 August. Philip Naughton will take over as non-executive chairman on the same date. Smith will start as CEO on 17 August.
“We are strengthening the leadership team by separating the executive chairman role and CEO roles,” Goulding said.
“David brings industry experience and a strong track record of building premium drinks brands, while Philip has already made an excellent contribution since joining the board earlier this year.”
Smith has spent more than 25 years in the drinks sector, Distil said, including five years as executive chairman and CEO at English whisky maker Fielden.
He also worked at Diageo, where he “assisted in the launch of RTDs” and at West Indies Rum Distillery, where he “built brands in export markets”, the statement said.
Distil intends to appoint Smith to the board, subject to the completion of the nominated adviser’s standard due diligence process.
Smith said: “I have been aware of Distil for many years and I’ve always been very impressed by their levels of innovation and the quality of their products. Their portfolio has wide consumer appeal and is positioned well for growth against the current trends around affordability.”
In March, Distil warned of an “immediate short-term” need for funding as the UK spirits group anticipated a drop in sales in its full fiscal year.
At the time, the company said fourth-quarter revenue was “significantly below forecast” and that full-year revenue would be “materially below market expectations”, while loss before tax would be “greater than anticipated”.
It also highlighted an “immediate short-term funding need”, with the board “currently exploring funding options to address this need”.
For the six months to 30 September 2025, revenue fell 20% to £313,000 ($419,526.4) from a year earlier.
It ran up an operating loss of £587,000, compared with £622,000 in the prior-year period, while loss for the period narrowed 8.1% to £510,000.
On Monday (13 July) Distil appointed Fortitude Drinks as its new UK distributor, with the arrangement set to begin next month.
That move ends the company’s existing UK distribution agreement with Global Brands.
