Diageo CEO Debra Crew steps down, FT reports

Diageo (DEO) announced that chief executive Debra Crew has stepped down with immediate effect, Arash Massoudi, Madeleine Speed and Anjli Raval of Financial Times reported. This reportedly follows a period of declining alcohol sales and weakening investor sentiment that weighed heavily on the company’s share price. Finance chief Nik Jhangiani will take over as interim CEO while the board begins a formal search for a permanent successor.

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• Diageo price target lowered to 2,460 GBp from 2,490 GBp at Barclays

• Diageo’s Attractive Valuation and Growth Prospects Justify Buy Rating

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