
Debra Crew Steps Down As Diageo CEO; CFO Nik Jhangiani Takes Interim Charge
Debra Crew steps down from the position of Chief Executive Officer of Diageo, effective immediately. The company stated the decision was made by mutual agreement.
Nik Jhangiani, Chief Financial Officer (CFO), has been appointed interim CEO while the search for a permanent replacement is underway.
Crew’s exit comes as Diageo undertakes a turnaround strategy, which includes USD 500 million in cost reductions and asset sales by 2028. The company reaffirmed its financial forecasts for fiscal years 2025 and 2026. During Crew’s tenure, Diageo faced declining sales, particularly in Latin America.
Crew took over in June 2023 after serving as Chief Operating Officer (COO). She served as a Captain of Military Intelligence Officer in the U.S. Army from 1993 to 1997. Currently, she is serving as Board Member at Stanley Black & Decker, Inc. Prior to Diageo, she held positions like President and General Manager of North America Nutrition at PepsiCo and President & CEO at Reynolds American, Inc. She holds a bachelor’s degree in arts (international studies & Spanish) from the University of Denver and an MBA from the University of Chicago Booth School of Business.
Jhangiani has over 25 years of experience in the industry. Prior to Diageo, he held positions like Group CFO at Coca-Cola HBC and Bharti Enterprises. He served as CFO (Europe) at Coca-Cola European Partners and as Senior Vice President (SVP) & CFO at Coca-Cola Europacific Partners. He holds a degree in economics and accounting from Rutgers Business School.