LONDON, May 3 Reuters Global drinks group Diageo named Nik Jhangiani as its chief financial officer CFO on Friday, replacing Lavanya Chandrashekar who will step down after three years in the role.

Jhangiani, currently CFO at CocaCola Europacific Partners, will be taking up the role in Autumn 2024, the maker of Tanqueray gin and Johnnie Walker whisky said in a statement, without giving a reason for the personnel change.

I am proud to have overseen a strong period of growth for Diageo, and to have embedded a culture of productivity and efficiency which will set the business up for longterm success, Chandrashekar said in the Diageo statement.

Diageo Chief Executive Debra Crew, who took the helm in June last year, said she was grateful for Chandrashekar39;s contribution and excited for Jhangiani to take up the role.

He is a highly experienced CFO with a proven global trackrecord of generating growth across multiple consumer businesses and industries, she said.

Diageo issued a profit warning last year that dented investor confidence.

With a strong focus on execution, we will continue to invest behind our worldleading brands to create value for shareholders and maintain our position as an industry leader in total beverage alcohol, which we strongly believe is an attractive sector with a long runway for growth, Crew added.

Reporting by Chandini Monnappa in Bengaluru and Emma Rumney in London; Editing by Rashmi Aich and Alexander Smith

Source Reuters