New Delhi, July 17 -- Diageo Plc, the maker of Guinness and Johnnie Walker whisky, said Chief Executive Officer Debra Crew has stepped down after a stint of two years at the distiller.

During Crew's bruising run, the company's stock has plummeted 43 per cent through Tuesday's close. She took over as CEO in June 2023.

The world's biggest spirits maker on Wednesday appointed Chief Financial Officer (CFO) Nik Jhangiani as its interim CEO, while a search is underway for Crew's permanent replacement.

After the announcement, Diageo shares surged as much as 4.4 per cent, the most since April.

Crew's tenure has been punctuated by setbacks, including a drop in sales due to cooling demand in China, the US, Mexico, and Brazil.

In February, the ...