Published by Global Banking & Finance Review®
Posted on July 16, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleNik Jhangiani becomes Diageo's interim CEO after Debra Crew's exit, focusing on performance and debt reduction amid a 20% share price drop.
(Reuters) -Diageo CEO Debra Crew has stepped down and finance chief Nik Jhangiani has taken over in the interim, the company said on Wednesday, as the world's biggest spirits maker strives to boost performance and cut debt.
The maker of Johnnie Walker whisky and Guinness beer is in the midst of a turnaround plan, targeting $500 million in cost savings after underperformance shaved off more than 20% from its share price in the last 12 months.
Crew had taken charge as CEO two years ago.
WHO IS NIK JHANGIANI?
Jhangiani is a graduate of Rutgers Business School, Newark, New Jersey, and is a certified public accountant in the state of New York. He began his career at Deloitte and went on to hold finance roles at Bristol Myers Squibb and Colgate-Palmolive, where he was the group financial director for Nigeria.
In a career spanning more than 30 years, he has held senior finance leadership roles across the U.S., Europe, India and Africa and is credited with overseeing major capital markets activity, acquisitions and strategic transactions.
CAREER PATH:
* July 2004 - April 2009: Group chief financial officer, Coca-Cola HBC
* May 2009 - February 2012: Group chief financial officer, Bharti Enterprises
* September 2012 - December 2012: Chief financial officer, Coca-Cola European Partners
* January 2013 - June 2016: Senior vice president and chief financial officer, Coca-Cola Enterprises
*June 2016 - September 2024: Senior vice president and chief financial officer, Coca-Cola Europacific Partners
* September 2024 - present: Chief financial officer, Diageo Sources: LinkedIn, company websites
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Pooja Desai)
Nik Jhangiani is the interim CEO of Diageo, having previously served as the finance chief. He is a graduate of Rutgers Business School and a certified public accountant in New York.
Diageo is implementing a turnaround plan that aims to achieve $500 million in cost savings after facing significant underperformance.
Before joining Diageo, Jhangiani held senior finance leadership roles at Coca-Cola HBC, Bharti Enterprises, and Coca-Cola European Partners.
Debra Crew stepped down as CEO of Diageo on a Wednesday, with Nik Jhangiani taking over as interim CEO.
Diageo's underperformance resulted in a more than 20% decline in its share price, prompting the need for a turnaround plan.
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