Today, beverage giant Diageo announced that Debra Crew has stepped down as Chief Executive Officer “by mutual agreement” effective immediately.
Crew served as Diageo CEO since June 2023, originally joining the company in 2019 as President of Diageo North America.
Since Crew took over as CEO, the company has faced a steep decline in sales due to the pandemic, market fluctuations, and consumer downturn amid tariff disruptions. Since 2023, Diageo’s stock has dropped approximately 44%.
The world’s largest spirits producer is also currently involved in a lawsuit over its Casamigos and Don Julio tequilas due to mislabeling.
In a press release, John Manzoni, Diageo Chair told investors: “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.”
The company stated that its guidance for fiscal 25 and 26 remains unchanged from what was shared on 19th May 2025 in its Q3 Trading Statement.
Until a permanent CEO is appointed, Nik Jhangiani, Diageo’s CFO, will serve as the interim CEO.
By CEO NA Editorial Staff
