Diageo Plc is replacing Chief Executive Officer Debra Crew after a miserable two years that have undermined the distiller’s strategy of trying to get consumers to trade up to more expensive drinks.
The UK company’s shares slumped 43% since Crew took over in June 2023, a tenure that saw the maker of Johnnie Walker whisky scrap a long-held sales target, issue a profit warning and grapple with trade tensions triggered by US President Donald Trump.