Diageo, which owns the Guinness and Johnnie Walker brands, is to replace its embattled chief executive, ending her rocky tenure in charge of the British alcoholic drinks firm.
According to The Guardian, in a statement to the stock market, Diageo said it had begun the hunt for a successor to Debra Crew, who the company said had stepped down “by mutual agreement”.
Her departure follows a lengthy period of investor disquiet about the company’s lacklustre performance under the former captain in US military intelligence.
The London-based company’s chief financial officer, Nik Jhangiani, will lead the business on an interim basis and has been tipped as a frontrunner for the permanent job.
Diageo’s share price climbed by more than 3% to nearly £20 on news that Crew would be replaced, first reported by the Financial Times, before losing most of its gains.
Crew joined the £43bn British company in 2019 and took command in 2023 after the sudden illness and death of Ivan Menezes – a popular figure who had led Diageo successfully for 10 years.
