Diageo announces new CFO

Diageo has announced that Nik Jhangiani will join the company as chief financial officer (CFO) in autumn 2024, also joining Diageo’s board and executive committee. 

Lavanya Chandrashekar will step down from the executive committee and board at the same time after three years as CFO and six years with the company, and will return to the US. 

Debra Crew, chief executive, 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. 

“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,” Crew added.

Jhangiani is currently CFO at Coca-Cola Europacific Partners (CCEP), a role he has held since 2016. Prior to this he was also CFO at Coca-Cola Enterprises (CCE) and at Bharti Enterprises. 

Chandrashekar joined Diageo in 2018 as CFO North America and was appointed CFO of Diageo in July 2021.

“I am proud to have overseen a period of growth for Diageo, and to have embedded a culture of productivity and efficiency which will set the business up for long-term success. I wish Debra and all my Diageo colleagues the best for the future,” said Chandrashekar.