Diageo has announced that Debra Crew has stepped down as chief executive officer and as a board director with immediate effect, by mutual agreement.

John Manzoni, chair, Diageo, said: “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,” Manzoni added.

Until a permanent appointment is made, Nik Jhangiani, chief financial officer, will assume the role of chief executive officer on an interim basis.

Crew has led Diageo as chief executive since June 2023, having joined Diageo as a non-executive director in 2019, then serving as president of Diageo North America and subsequently as group chief operating officer.