Diageo appoints interim CEO as Sir Ivan Menezes undergoes medical treatment

Spirits and beer company Diageo has announced the appointment of Debra Crew as interim chief executive with immediate effect while its existing boss undergoes medical treatment.

Crew was due to take over as head of the firm from 1 July when Sir Ivan Menezes was set to retire after a decade in the role.

Menezes is in hospital receiving treatment for medical conditions including a stomach ulcer, Diageo said.

The company said in a statement: “Over the weekend, we learned that Ivan’s recovery suffered a significant setback due to complications, which followed emergency surgery on the ulcer.

“Our thoughts are with our much-loved colleague, Ivan, and his family.”

Crew will be the firm’s first female chief executive, stepping up from her current position as chief operating offer. Her appointment will bring the number of female-led companies in the FTSE 100 up to ten.

Menezes joined Diageo, which owns brands including Johnnie Walker, Smirnoff, and Tanqueray, when it formed in 1997 and has spent more than 25 years in senior positions. He was knighted for services to business and to equality in the King’s 2023 New Year Honours list.

Meanwhile, Crew has held senior positions at PepsiCo, and previously served as an officer in the US army.

She will take over at the helm alongside chief financial officer Lavanya Chandrashekar.