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Diageo has today (16 July 2025) confirmed that its CEO, Debra Crew, has stepped down with immediate effect.

In a statement, the alcohol giant revealed that Crew has stepped down from her role as chief executive as well as a board director by mutual agreement, though it did not disclose further details of the reasons for her departure.

Diageo has faced challenging sales declines, fuelled by economic uncertainty and evolving consumer spending habits, since Crew took up the chief executive position in 2023. She joined Diageo in 2019, first as a non-executive director before serving as president of Diageo North America, group chief operating officer, then CEO.

The group recently announced a three-year $500 million cost savings programme, aiming to boost its performance and operational efficiency.

John Manzoni, chair of 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”.

The board has now begun a formal search process, which will include the consideration of both internal and external candidates for the CEO role.

Nik Jhangiani, the company’s current chief financial officer, will assume the CEO position on an interim basis until a permanent appointment is made.