Diageo Appoints Joanne Wilson as CFO to Lead Turnaround

Spirits manufacturer Diageo, founded in 1997 and now one of the largest corporate owners of the drinks scene, has announced that Joanne Wilson will step into the role of Chief Financial Officer, joining both the Board and Executive Committee in 2027. 

She replaces outgoing CFO Nik Jhangiani, as the FTSE 100 business focuses on driving operational efficiency and accelerating its broader commercial turnaround.

Sir Dave Lewis, Chief Executive at Diageo, comments: “Joanne is a very experienced CFO and commercial leader who will ensure we accelerate the turnaround of Diageo, having already delivered extensive transformations in her previous companies. I am looking forward to welcoming her to Diageo and the Executive team.”

High-profile financial leadership

Joanne brings a wealth of senior finance and commercial expertise across the consumer goods, retail, data and agency sectors. 

Currently serving as CFO at communications group WPP plc, her previous experience includes executive roles at Britvic, customer data science firm dunnhumby and supermarket giant Tesco. 

She began her career at KPMG in 1997, where she qualified as a chartered accountant, and presently holds a non-executive directorship at Informa PLC.

The leadership succession follows the launch of Diageo’s updated strategic roadmap and three-year financial outlook, aimed at generating long-term shareholder value through disciplined capital allocation.

Joanne Wilson, incoming CFO of Diageo, says: “I am delighted to be joining Dave and the entire Diageo team at such an exciting point in the company’s journey. 

“Diageo has a unique portfolio of global brands and a clear strategy with significant opportunities ahead. 

“I very much look forward to working together with all colleagues to consistently create value for shareholders and strong outcomes for all stakeholders.”

Balance sheet management and transition

Nik joined the group from Coca-Cola Europacific Partners in September 2024. During his tenure, he stepped up to act as interim CEO between July and December 2025, steering the company’s Accelerate programme. 

His focal points centred around cash generation, operational execution and cost optimisation.

Sir Dave continues: “It is a real pleasure working with Nik and I would like to thank him for his support to me and his significant contribution to Diageo. 

“Nik and I have agreed that, now we have shared our new Strategy, this is the right time for this change. Nik will remain in role to ensure a smooth handover to Joanne.”

Nik will remain in position until Joanne officially assumes the role to ensure an orderly transfer of responsibilities.

Nik Jhangiani, outgoing CFO, notes: “I have enjoyed every minute of my time at Diageo. I am proud that we were recently able to set out our three-year financial plan to our investors, including significant progress on deleveraging and strengthening our balance sheet. 

“I would like to thank my fantastic team for their support, and I wish Dave and all our colleagues the very best for the future.”

Diageo partners:

LMVH: Diageo owns 34% holding in Moët Hennessy, LVMH's wine and spirits division, establishing their long-standing joint-venture distribution arrangement.

Main Street Advisors: A joint venture formed to drive brand growth and market oversight for high-profile spirits brands in North America and worldwide, such as Cîroc Vodka and Lobos 1707 Tequila.

FIFA: Diageo partners with FIFA as an official supporter and sponsor for major global sporting events, leveraging brands like Buchanan's and Johnnie Walker for event-led marketing.
Washington Spirit: A purpose-driven sports partnership with the National Women's Soccer League (NWSL) team, focusing on community engagement and responsible drinking initiatives.

NFL: in 2021, Diageo signed a landmark sponsorship deal designating Captain Morgan as the Official Spiced Rum of the NFL, expanding to include multi-brand marketing activations across game days and the Super Bowl.