Chief Financial Officer Nik Jhangiani, who joined the company last autumn, will assume the role of interim CEO while a search for a permanent replacement is conducted.
A formal, comprehensive search is already in progress, considering both internal and external candidates.
Debra Crew, who ascended from her previous position as Chief Operating Officer at Diageo, was appointed CEO in June 2023. She has the distinction of being the first woman to hold this role and served on the board between 2019 and 2025.
Diageo ranks among the world’s largest beverages manufacturers, owning iconic brands such as Guinness, Johnnie Walker, Baileys, Smirnoff, and Captain Morgan.
In response to Crew’s departure, Diageo Chair John Manzoni remarked: “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 advance the company. We firmly believe Diageo is well-positioned to create long-term, sustainable value.”
Additionally, Diageo announced that its fiscal results for 2025 will be published on 5 August.
The firm reported a $304m decline in operating profit in the 2024 fiscal year, primarily due to challenges in the Latin America and Caribbean region.
In light of this decline in revenue and profit, Diageo has sold majority stakes in Guinness Nigeria, Guinness Ghana, and Casa Redondo, while also exploring the potential sale of Pimm’s.
