Diageo CEO Debra Crew steps down
Debra Crew has stepped down as chief executive officer of Diageo, and as a board member, with immediate effect.
Johnnie Walker owner Diageo said the move was a mutual agreement.
Until a permanent CEO is appointed, Nik Jhangiani, chief financial officer, will temporarily take up the CEO role.
Diageo said the board has begun searching for Crew’s replacement.
John Manzoni, chair, Diageo, said: “On behalf of Diageo and the board, I would like to thank Debra for her contributions to Diageo, including steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility.
“On behalf of all Diageo colleagues, I wish her every success in the future. The board’s focus is on securing the best candidate to lead Diageo and take the company forward. We strongly believe Diageo is well placed to deliver long-term, sustainable value creation.”
In 2023, Crew had been in line to succeed former CEO Sir Ivan Menezes once he retired that year.
Sadly, Menezes died in June 2023 after a short illness, and Crew was appointed CEO.
She joined Diageo as a non-executive director in 2019 before serving a president of Diageo North America, and then group chief operating officer.
Sales-wise, Diageo experienced a 1% sales increase in the six months to December 2024, with reported net sales up by 2.9% to US$4.4 billion in the first three months of this year.
In May, the company calculated US tariffs could hit its business by approximately US$150 million each year.
In March this year, Diageo backed out of its partnership with the Distill Ventures accelerator programme, which resulted in job losses.
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