Rishton is currently chair of Informa, as well as chair of Serco Group, from which he will retire on 31 December.

Diageo chair, Sir John Manzoni, said: “I am delighted with John’s appointment to the Diageo board. John is a highly regarded business leader with extensive experience in a wide variety of industries, including in consumer and retail businesses, and a track record of creating sustainable, long-term value for stakeholders.

“I look forward to working with him in positioning Diageo for sustainable growth, maximising the opportunities to strengthen the business and deliver stronger shareholder returns on a sustained basis,” Manzoni added.

Joining as non-executive director, Rishton has over 40 years’ business experience in a variety of roles, including nearly 14 years as a chief executive or chief financial officer. 

His executive roles include chief executive of Rolls Royce Group from 2011 to 2015 and chief financial officer, and chief executive and president of Royal Ahold NV from 2006 to 2011.

Rishton was also chief financial officer of British Airways from 2001 to 2005.

Rishton has experience in non-executive roles, including at Unilever, Associated British Ports, Allied Domecq, Majid Al Futtaim and ICA Gruppen.

On appointment, Rishton will join the board’s audit and nomination committees.