Debra Crew set to exit as Diageo seeks fresh leadership: Reports

Diageo, the global spirits giant behind Johnnie Walker and Guinness, is reportedly preparing for a major leadership shakeup as it grapples with slowing sales and dwindling investor confidence. According to the report by Financial Times, the company’s board is actively searching for a successor to current CEO Debra Crew, who has faced mounting challenges since taking over the top role in June 2023.

Crew’s tenure has coincided with a turbulent stretch for the FTSE 100 drinks maker, marked by a sharp slump in alcohol sales in Latin America and broader global headwinds as the pandemic-driven spirits boom gave way to more cautious consumer spending. In her first five months, Crew was forced to issue a profit warning, an early sign of deeper trouble.

Diageo’s stock has nosedived by 43% under her leadership, as the company struggled to reignite growth. In February, Diageo abandoned its medium-term growth targets and flagged uncertainty around U.S. tariffs and global demand softness.

Now, with pressure mounting, Diageo is reportedly considering Chief Financial Officer Nik Jhangiani for the role of interim CEO. Since joining in September 2023, Jhangiani has earned praise from key investors and is seen as a stabilising force.

As per the Financial Times report, the potential leadership overhaul reflects a growing trend across global consumer brands, executive changes driven by post-pandemic realignment, investor impatience and evolving market dynamics.

Read More: