Diageo (DEO) announced that Debra Crew has stepped down as Chief Executive Officer and as a board director with immediate effect, by mutual agreement. The board has begun a search process, which will include consideration of internal and external candidates. Until a permanent appointment is made, Nik Jhangiani, Chief Financial Officer, will assume the role of CEO on an interim basis. John Manzoni, Chair of Diageo, said, ‘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.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DEO:
- Morning Movers: PNC Financial and Johnson & Johnson higher after Q2 results
- Diageo CEO Debra Crew steps down, FT reports
- Diageo price target lowered to 2,460 GBp from 2,490 GBp at Barclays
- Diageo’s Attractive Valuation and Growth Prospects Justify Buy Rating
- Diageo price target lowered to 1,840 GBp from 1,855 GBp at Morgan Stanley