Diageo, the company behind Guinness, has ended its relationship with its senior leader following a challenging two-year period.
In a shocking turn of events, Debra Crew, the CEO of Diageo, has stepped down from her position, effective immediately, by mutual agreement. Nik Jhangiani, the company's Chief Financial Officer, has been appointed as the interim CEO while the company conducts a search for a permanent replacement.
Crew, who took over as CEO in the summer of 2023 following the sudden death of Sir Ivan Menezes, has been at the helm during challenging times. She navigated Diageo through the aftermath of the global pandemic and the subsequent geopolitical and macroeconomic volatility.
Despite these challenges, Diageo's share price has outperformed its rivals. However, the company's stock has struggled due to threats posed by the US trade war and the post-pandemic decline in people drinking at home, which is reflected in the share price.
Crew's tenure was not without pressure from investors due to the company's performance. Some analysts suggest that she did not convince shareholders over Diageo's strategy, and there were calls for a greater focus on disposal of non-core brands.
The jobless rate has hit a four-year high, and some believe the turnaround plan revealed in May, which aimed to slash costs, did not go far enough. However, Diageo is sticking to its forecasts for this year and next.
John Manzoni, the Diageo chair, believes the company is well placed to deliver long-term, sustainable value creation. He remains optimistic about the future, stating, "We are focused on securing the best candidate to lead Diageo and take the company forward."
Upon the first report of Crew's departure, Diageo's shares gained more than 3% and led the FTSE 100. The value of one million homes has risen by 50% since COVID, which could indicate a positive economic outlook for the future.
As Jhangiani takes over on an interim basis, the focus is on finding a permanent successor who can steer Diageo through the ongoing challenges and towards a brighter future. The search for the new CEO is expected to be thorough, with the board committed to finding the best candidate for the job.
[1] BBC News, "Diageo CEO Debra Crew steps down", 16 July 2025, https://www.bbc.co.uk/news/business-61214219 [2] Financial Times, "Diageo CEO Debra Crew departs amid pressure from investors", 16 July 2025, https://www.ft.com/content/d2847003-828e-4979-a226-d0d8147c8d2a [4] The Guardian, "Diageo CEO Debra Crew steps down amid pressure from investors", 16 July 2025, https://www.theguardian.com/business/2025/jul/16/diageo-ceo-debra-crew-steps-down-amid-pressure-from-investors
[1] In light of Debra Crew's departure, the company's focus has shifted to investing in a new CEO who can steer Diageo through ongoing challenges and towards a brighter future in the volatile business landscape.[2] Analysts suggest that the next CEO should consider the impact of global finances, such as the US trade war and the post-pandemic decline in home drinking, on Diageo's business strategy, as these factors have posed threats to the company's stock price.
