Diageo, the drinks giant which counts Johnnie Walker, Guinness, and Smirnoff among its brands, has announced the departure of its chief executive officer, Debra Crew.
Crew will step down as CEO and board director with "immediate effect", Diageo confirmed. In its statement announcing Crew's departure, Diageo said that the decision was made by "mutual agreement".
Crew joined Diageo as a non-executive director in 2019, before becoming president of Diageo North America and then group chief operating officer. She was appointed as CEO in June 2023, following the passing of her predecessor Sir Ivan Mezenes. Having joined Diageo in 1997, Mezenes held the CEO position for 10 years from 2013.
Diageo confirmed that a "comprehensive formal search process" that will consider internal and external candidates has begun to find a successor for Crew. While recruitment is underway, Nik Jhangiani, chief financial officer, will hold the CEO role on an interim basis.
John Manzoni, chair of Diageo plc, commented: “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.”
Diageo revealed in June that its reported net sales had increased by 2.9 per cent to US$4.4billion for the first three months of 2025. In February, the company announced its organic net sales had grown by 1 per cent in the six months to December 2024.
In March, Diageo pulled out of Distill Ventures, the 'accelerator' programme through which it funded distilleries including Westward, Starward, and Stauning. In the time since, Stauning has seen "reorganisation" including job cuts, and Westward filed for Chapter 11 bankruptcy protection.
