Diageo CEO Debra Crew steps down after two years in the role, with finance chief Nik Jhangiani taking over as interim CEO. The company aims to boost performance and reduce debt, with shares rising 4.5% initially. Crew’s departure comes after a struggle to win over investors, amid falling sales in key markets like Latin America and the United States. Jhangiani, a highly-respected finance chief, may be a candidate for the permanent CEO role. Industry challenges, such as inflation, have impacted Diageo’s performance, and Jhangiani lacks specific spirits industry experience. Crew’s exit is part of a broader trend of leadership changes in the consumer goods sector.

Read more at Yahoo Finance: Diageo CEO Crew steps down as company pursues turnaround, cost cuts