Diageo CEO Debra Crew has stepped down after two years in the job, the world's biggest spirits maker said on Wednesday, with finance chief Nik Jhangiani taking over in the interim as the company strives to boost its performance and cut debt.

When Diageo announced Crew’s departure today, the company’s shares moved up by close to 5%. As the City absorbed the news that gain vanished.

Diageo’s (DEO) chief executive, Debra Crew, has reportedly stepped down from her role after two years, with CFO Nik Jhangiani assuming the interim CEO position. Diageo’s U.S.-listed shares rose 1% in premarket trading on Wednesday.