Diageo Names WPP’s Joanne Wilson as Chief Financial Officer

Diageo has named Joanne Wilson as its next chief financial officer, putting a new finance leader in place as the British drinks company carries out a broad recovery and cost-cutting plan. The company said Wilson will join in 2027, when she will also take a seat on Diageo’s board and become a member of its executive committee. She will replace Nik Jhangiani, who will stay in the role until the handover is completed.

Wilson is currently chief financial officer at WPP. Before that, she held senior finance and commercial roles at Britvic, dunnhumby, Tesco and KPMG, where she qualified as a chartered accountant. She also serves as an independent non-executive director at Informa.

The appointment comes at a difficult time for Diageo, owner of brands including Johnnie Walker, Guinness, Baileys, Smirnoff, Tanqueray and J&B. The company reported a 26.2% drop in net profit for its 2026 fiscal year, adding pressure on management to improve cash generation, cut debt and raise efficiency. Diageo has also announced a $1 billion savings program, which it expects to deliver about $850 million in savings, with around 40% of that expected in fiscal 2027, plus roughly $150 million from supply chain measures.

The group has already reduced its headcount sharply. It ended the fiscal year with nearly 2,000 fewer employees, with more than half of those reductions in its Africa business. The finance change therefore arrives as Diageo is trying to steady earnings, protect margins and reassure investors that its new strategy can restore stronger growth.

Chief executive Dave Lewis said the timing of the change was agreed after the company presented its new strategy. He thanked Jhangiani for his work and said he would remain in place to ensure a smooth transition. Lewis described Wilson as a finance chief and commercial leader with deep experience and said her record of leading change at earlier employers would help speed Diageo’s recovery.

Jhangiani joined Diageo in September 2024 from Coca-Cola Europacific Partners. His time at the company covered a period of operational and leadership strain. He served as interim chief executive from July to December 2025 and oversaw the group’s Accelerate program, which focused on cash management, operational discipline and cost efficiency. His role became more important as Diageo worked through weaker results and prepared a new three-year financial plan.

Board chairman John Manzoni said the board was grateful for Jhangiani’s contribution in helping reposition the business for sustainable growth and shareholder value. He also welcomed Wilson to the board, saying her arrival would support the next stage of the company’s transformation.

Wilson said she was joining Diageo at an important moment for the business. In the company’s statement, she pointed to Diageo’s portfolio of global brands and said the group had a clear strategy and meaningful opportunities ahead. She said she looked forward to working with colleagues across the company to deliver consistent value for shareholders and strong results for stakeholders.

Jhangiani, in his own statement, said he was proud that Diageo had recently presented investors with a three-year financial plan that included progress on lowering debt and strengthening the balance sheet. He thanked his team for its support and said he wished Lewis and the wider company well.

The finance appointment is one of several senior leadership changes since Lewis took over as chief executive in January. In recent months, Diageo has also seen changes in other key roles, including the departures of North America marketing and innovation head Ed Pilkington, Africa president Hina Nagarajan and chief human resources officer Louise Prashad. Those moves have come as Lewis has pushed a restructuring effort that he presented to the board earlier this year.

Diageo has not given a specific start date for Wilson beyond saying she will take up the role in 2027. Until then, Jhangiani is expected to remain in office and continue overseeing the company’s finance agenda, including the execution of its savings plan and the transition to his successor.