Diageo chief executive Debra Crew has quit with immediate effect and will be replaced on an interim basis by the embattled drinks group’s finance boss, after falling alcohol sales and waning investor confidence battered its share price.

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

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.