Diageo PLC (LSE:DGE) has appointed Nik Jhangiani as chief financial officer in place of Lavanya Chandrashekar, who will step down after three years in the role.
Chandrashekar will also leave the board after six years with the drinks supplier.
Jhangiani is currently CFO at Coca-Cola Europacific Partners (CCEP), the world's largest Coca-Cola bottler with revenues of over €18 billion in 2023, a role he has held since 2016.
Debra Crew, chief executive of Diageo said: "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.
"I am grateful to Lavanya for her leadership over the last six years and her contribution as Diageo successfully expanded our business through a global pandemic and delivered major productivity savings.”
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."