Diageo CEO Debra Crew is stepping down from her role and as a board director, effective immediately, by mutual agreement.
Chief financial officer Nik Jhangiani will take over as interim CEO while the board conducts a formal search for a permanent successor. The process will consider both internal and external candidates, the company said.
“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,” said John Manzoni, chair of Diageo.
Debra Crew has led the company as CEO since June 2023. She joined Diageo as a non-executive director in 2019 and later held senior leadership roles, including president of Diageo North America and group COO.
“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,” said Manzoni.
Last year, the company also reshaped its Australian C-suite team to support the business’s long-term growth strategy.
