Britain's Most Admired No. 9: Diageo, Paul Walsh
Diageo has lost its crown as Britain's Most Admired Company, dropping from first to ninth position. Paul Walsh, at the drinks company for more than nine years, led the company through the great times; now he faces the tough times. Sales at Diageo are flat at £9.3bn, so cost-cutting is top priority. More than 900 jobs will be lost at the maker of Guinness, Smirnoff and Johnnie Walker, news that went down with the workforce like a luke-warm pint of the black stuff.