Guinness owner Diageo announces new chief executive as Ivan Menezes stands down

Debra Crew, the chief operating officer who was widely tipped to step up when Menezes retired, will lead the company

Diageo’s share price has doubled since Ivan Menezes became chief executive. Picture: Naoise Culhane

Diageo has named Debra Crew, its chief operating officer, to succeed Ivan Menezes who is stepping down as chief executive after a decade at the helm of the Guinness owner.

The elevation of an internal candidate signals continuity at the sixth-largest member of the FTSE 100 stock index, where Crew will become one of the highest-profile female executives.

During Menezes’ decade of leadership, Diageo became synonymous with premium spirits, acquiring brands like George Clooney’s Casamigos ...