Diageo today announces that Debra Crew has stepped down as Chief Executive Officer and as a Board Director with immediate effect, by mutual agreement.
The Board has begun a comprehensive formal search process, which will include consideration of internal and external candidates. Until a permanent appointment is made, Nik Jhangiani, Chief Financial Officer, will assume the role of Chief Executive Officer on an interim basis.
Debra Crew has led Diageo as Chief Executive Officer since June 2023, having joined Diageo as a non-executive director in 2019, then serving as President of Diageo North America and subsequently as Group Chief Operating Officer.
Guidance for fiscal 25 and 26 remains unchanged from what was shared on 19th May 2025 in the Q3 Trading Statement, and Diageo will report its fiscal 2025 full year results on 5th August as planned.
John Manzoni, Chair, Diageo plc, 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.”
Randall Ingber, General Counsel & Company Secretary, is responsible for arranging the release of this announcement on behalf of Diageo.
Crew's departure follows a lengthy period of investor disquiet about the company’s lacklustre market performance.
Crew’s tenure has been marked by a shock profits warning, adverse global consumer trends and investor dissatisfaction.
One such episode is around in the run-up to Christmas last year when Diageo appeared to have misjudged its supply chain again, with UK pubs complaining that their flow of Guinness had been rationed, just as festive demand increased.