In February, Diageo appointed Sir John Manzoni, former permanent secretary for the UK’s cabinet office, as chair, just as the company scrapped its target for medium-term sales growth of between 5 and 7 per cent, blaming uncertainty over US tariffs and weak demand.

The chief executive of Guinness-owner Diageo has stepped down with immediate effect, the drinks giant has announced. In an unusual move for a big corporation, Debra Crew has left her role without a succession plan in place. The firm is looking for a replacement, and in the meantime chief financial officer Nik Jhangiani will take on her role.

Diageo CEO Debra Crew resigned as the maker of brands including Smirnoff vodka and Guinness beer struggles with weak sales.