Diageo has appointed Joanne Wilson, former finance chief of WPP, as its new chief financial officer, succeeding Nik Jhangiani. The move comes as CEO Sir Dave Lewis continues a sweeping overhaul of the executive team after taking the helm in January. Wilson will join Diageo’s board sometime in 2027 and will work alongside Lewis to deliver a $1bn cost‑reduction plan over three years, including thousands of job cuts across the 30,000‑strong workforce.

Lewis said Wilson’s experience at Tesco, Britvic, dunnhumby and KPMG makes her well‑suited to accelerate Diageo’s turnaround. Jhangiani, who had been speculated to be angling for the top job under former CEO Debra Crew, agreed the timing was right after the new corporate strategy was shared.

Wilson’s departure is a setback for WPP, which is restructuring under new chief Cindy Rose amid fears that AI will erode client spending. WPP shares have fallen 61 per cent over the past five years, and the group said Wilson has a 12‑month notice period with a departure date to be agreed.