Diageo plc announced on Thursday that Chief Executive Officer Debra Crew has stepped down from her position and as a Board Director with immediate effect. The decision was made by mutual agreement, the company said in an official statement released on 18 July 2025.
To ensure continuity in leadership, Diageo has appointed Chief Financial Officer Nik Jhangiani as interim CEO while a formal search process is initiated. The search will include both internal and external candidates, the company confirmed.
Crew had been serving as CEO since June 2023. She first joined Diageo in 2019 as a Non-Executive Director, later moving into executive roles including President of Diageo North America and subsequently Group Chief Operating Officer before being elevated to CEO.
“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 John Manzoni, Chair, Diageo plc.
He added, “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 leadership transition comes ahead of the company’s scheduled announcement of full-year results for fiscal 2025 on 5 August. The company clarified that its previously stated guidance for fiscal 2025 and 2026, issued as part of its Q3 Trading Statement on 19 May 2025, remains unchanged.
Nik Jhangiani, who now takes on the role of interim CEO, has been Diageo’s Chief Financial Officer and a member of the executive team. His interim appointment is intended to provide stability as the Board conducts its formal CEO search process.
The company did not disclose additional details regarding the reasons behind Crew’s departure or the expected timeline for appointing a permanent successor.
The announcement was arranged on behalf of Diageo by Randall Ingber, General Counsel & Company Secretary.
Diageo is one of the world’s leading beverage alcohol companies, with a portfolio that includes Johnnie Walker, Guinness, Smirnoff, and Tanqueray. Headquartered in London and listed on the London Stock Exchange, Diageo is part of the FTSE 100 Index.
Further updates on the succession process or any strategic changes are expected following the company’s upcoming earnings release.