Diageo has announced that Nik Jhangiani will join the company as its new chief financial officer (CFO).

He will take up the position and join Diageo’s board and executive committee in Autumn 2024.

Diageo confirmed that Lavanya Chandrashekar will step down from the board at the same time after three years as CFO and six years with the company.

Jhangiani is currently CFO at Coca-Cola Europacific Partners (CCEP), the world’s largest Coca-Cola bottler with revenues of over €18bn in 2023, a role he has held since 2016.

He has more than 30 years of finance experience gained in roles in the UK, Europe, India, Africa and the US, including 20 years as a CFO, and has spent most of his career in consumer and beverage industries including 20 years within the Coca-Cola system.

Jhangiani said: “I am delighted to be joining Diageo. It is an organisation I have long admired and one of the world's most respected and trusted consumer businesses. I look forward to working with my new colleagues to drive value for Diageo's shareholders, and to support the company's strong track record of building and sustaining exceptional brands.”

Chief executive at Diageo, Debra Crew, added: “I am delighted that Nik will be joining us. He is a highly experienced CFO with a proven global track-record of generating growth across multiple consumer businesses and industries. Nik's experience and international mindset will make him a strong addition to our leadership team.”

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