The London-based company confirmed that Chief Financial Officer Nik Jhangiani will serve as interim CEO while the board conducts a comprehensive search for a permanent replacement. The search will consider both internal and external candidates.
Diageo Leadership Transition Marks End of Brief Tenure
Crew joined Diageo’s board as a non-executive director in 2019 before taking operational roles within the company. She served as President of Diageo North America and subsequently as Group Chief Operating Officer before assuming the CEO position in June 2023.
Her tenure coincided with significant challenges for the spirits industry. The company navigated the aftermath of the COVID-19 pandemic, which dramatically shifted consumer behavior and disrupted global supply chains.
John Manzoni, Chair of Diageo plc, acknowledged these challenges in a statement: “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.”
Diageo Maintains Financial Guidance Amid CEO Change
The company reassured investors that the leadership change will not affect its financial projections. Diageo confirmed that guidance for fiscal years 2025 and 2026 remains unchanged from the targets shared in its May 19, 2025 Q3 Trading Statement.
The company will proceed with its scheduled fiscal 2025 full-year results announcement on August 5. This commitment to maintaining its financial calendar and targets suggests operational continuity despite the executive transition.
The board emphasized its confidence in the company’s future prospects. Manzoni stated that the board “strongly believe[s] Diageo is well placed to deliver long-term, sustainable value creation.”
No specific reason was given for Crew’s departure, with both parties describing it as a mutual agreement. The company did not provide a timeline for completing its CEO search process.
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