Diageo CEO quits
Diageo CEO Debra Crew has stepped down “by mutual agreement” after two years at the helm, to be replaced on an interim basis by current chief financial officer Nik Jhangiani.
Diageo said in a statement to the stock market that it had begun the hunt for a successor and, according to the Financial Times, Jhangiani is tipped as a frontrunner for the job.
Crew took over the reins at Diageo after the sudden death of Ivan Menezes but had come under pressure from investors over performance – shares in Diageo during her time in charge had dropped 40%. They apparently gained 4.5% when the reports emerged that her departure was imminent.
Despite the news, Diageo has maintained its fiscal forecasts for 2025 and 2026.
Counting itself as a pre-eminent global drinks supplier and brand owner, London headquartered Diageo operates from 132 sites worldwide, counting the likes of Johnny Walker and Guinness in its portfolio.
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