08:11 AM EDT, 07/16/2025 (MT Newswires) -- Diageo ( DEO ) said Wednesday that Debra Crew has stepped down as chief executive officer and board director by mutual agreement, effective immediately.

Chief Financial Officer Nik Jhangiani will serve as interim CEO while the board conducts a search for a permanent replacement, the company said, adding that internal and external candidates will be considered.

Financial guidance for fiscal 2025 and 2026 issued in May remains unchanged and full-year fiscal 2025 results will be reported on Aug. 5 as scheduled, the company said.

Diageo ( DEO ) shares were more than 3% higher in premarket trading.