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Debra Crew left Diageo as chief executive and board director with immediate effect by mutual agreement, two years into a tenure marked by falling sales and US tariffs, and CFO Nik Jhangiani became interim CEO.

Former Tesco chief executive Sir Dave Lewis took over as Diageo's CEO on 1 January 2026 on a £1.5 million salary, ending Nik Jhangiani's six months as interim chief after Debra Crew's exit.

Diageo's reported net sales fell 3.0% to $19.6 billion in the year to 30 June 2026 as North America dropped 8.4% and Chinese white spirits slumped, and new CEO Sir Dave Lewis unveiled about $1 billion of savings over three years.

Diageo reports first-quarter trading for fiscal 2027 and holds its annual general meeting on 5 November 2026, the first test of the broadly flat sales guidance Sir Dave Lewis set in August.