Guinness owner Diageo's CEO steps down after 2 years
New York, July 17 (UNI) Diageo, the world's biggest spirits maker, announced that its CEO Debra Crew has stepped down by 'mutual agreement' after being in the role for just two years.
The abrupt change comes amidst sluggish sales across the alcohol industry, which has also affected Diageo brands -- Johnnie Walker whisky, Casamigos tequila and Guinness beer, as well as the threat of increased tariffs from the United States, reports CNN.
In a press release issued yesterday, the London-based company said Crew is leaving with 'immediate effect.'
Nik Jhangiani, Diageo's chief financial officer, will become the interim CEO as Diageo conducts a 'comprehensive' search process.
Sir John Manzoni, Diageo's board chairman, thanked Crew for 'steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility.'
Diageo's stock (DEO) has lost about 44 percent of its value since Crew became CEO in June 2023.
She announced in May a plan that would slash US$500 million in costs and potentially sell some brands over the next three years.
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Guinness owner Diageo's CEO steps down after 2 years
17 Jul 2025 | 7:10 AM
New York, July 17 (UNI) Diageo, the world's biggest spirits maker, announced that its CEO Debra Crew has stepped down by 'mutual agreement' after being in the role for just two years.
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Babies made using 3 people's DNA born free of hereditary disease
17 Jul 2025 | 6:49 AM
London, July 17 (UNI) By employing the pioneering technique, eight babies have been born in the UK using genetic material from three people to prevent devastating and often fatal conditions, doctors said today.
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3 dead, 7 injured as passenger bus targeted in Balochistan
17 Jul 2025 | 12:46 AM
Kalat, July 16 (UNI) At least three people were killed and seven others sustained injuries after unidentified assailants opened gunfire on a passenger coach travelling from Karachi to Quetta near a checkpost in Balochistan's Kalat, police said on Wednesday.
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Russian Secretary of Security Council Sergei Shoigu calls NATO one of Moscow's biggest national security threats
16 Jul 2025 | 10:56 PM
Moscow, July 16 (UNI) Russian Security Council Secretary, Sergey Shoigu, has called NATO one of Moscow's biggest 'national security' threats, citing the international alliance's decision to increase its overall defence spending to 5% of its GDP by 2035.
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Israeli official says peace agreement with Syria depends entirely on regime behaviour
16 Jul 2025 | 10:07 PM
Tel Aviv/Damascus, July 16 (UNI) Shortly after Israel's attacks on Syria due to violence against the indigenous Druze community, and the US bid for calm, Tel Aviv has put the onus of reaching peace on Damascus, with a senior official stating that any kind of peace agreement with the new Syrian administration 'depends on how the regime behaves.'
'Everything depends on how this regime behaves. There's no doubt things have taken a negative turn in the past few days, after a brief period of calm. But we're not deluding ourselves,' said the official, reports Times of Israel.
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