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Nik Jhangiani named interim CEO of Diageo
Jhangiani, who has served as Diageo’s chief financial officer since autumn 2024, will lead the company while the Board conducts a formal search for a permanent CEO.
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Pranavi Sharma - Sun, 20, Jul 2025
- 02:20 EDT
- 14
Nik Jhangiani / Facebook
Indian-origin executive Nik Jhangiani has been appointed interim chief executive officer of Diageo, the world’s largest spirits company, after Debra Crew stepped down from the position with immediate effect. Crew also resigned as a Board Director. The company announced the leadership change on Saturday, stating it was a mutual decision.
Jhangiani, who has served as Diageo’s chief financial officer since autumn 2024, will lead the company while the Board conducts a formal search for a permanent CEO. The process will consider both internal and external candidates.
Crew had been CEO since June 2023, after joining Diageo’s board in 2019 and later serving as president of Diageo North America and Group chief operating officer.
The company said its guidance for fiscal years 2025 and 2026 remains unchanged. Full-year financial results for 2025 will be released on Aug.5.
John Manzoni, Chair of Diageo plc, thanked Crew for her service, saying, “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.”
He added, “The Board’s focus is on securing the best candidate to lead Diageo and take the company forward. We strongly believe Diageo is well placed to deliver long-term, sustainable value creation.”
Jhangiani, who was born in India and is based in the UK, brings more than three decades of international experience in the consumer goods and beverage sectors. Before joining Diageo, he was the CFO of Coca-Cola Europacific Partners (CCEP), where he managed finances for a company generating over €18 billion in revenue. Prior to that, he held senior roles at Coca-Cola Enterprises and served as Group CFO at Bharti Enterprises in India.
He is widely seen as a serious contender for the permanent CEO role.
“CFO and Interim CEO Nik Jhangiani has to be a candidate for the permanent role, but whoever gets it, we don’t think Diageo’s problems will be easily resolved,” RBC Capital Markets analyst James Edward Jones told Reuters.
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