Overview

• Debra Crew exited immediately by mutual agreement after two years in charge, handing the reins to finance chief Nik Jhangiani.
• The board has launched a formal search for a permanent successor, evaluating internal and external candidates with Jhangiani seen as the frontrunner.
• Shares fell roughly 44% during Crew’s tenure but ticked higher following the leadership change.
• In May, Diageo unveiled a plan to cut $500 million in costs and sell non-core assets by 2028 to strengthen its balance sheet.
• Lingering challenges from overstock in Latin America, high inflation, shifting consumer habits and US tariffs have driven the company’s recent performance pressures.