Diageo, the maker of Guinness, has appointed Joanne Wilson, currently the chief financial officer of advertising group WPP, as its new CFO. This move is part of an ongoing executive overhaul initiated by Diageo's CEO, Sir Dave Lewis, who is aiming to revitalize the company. Wilson is expected to join Diageo's board and executive committee in 2027.
Wilson will succeed Nik Jhangiani, who held the CFO position for just over two years and also served as interim chief executive between July and December 2025. Wilson's annual salary at Diageo will be £900,000, along with a pension contribution of 14% of her base salary. She is also eligible for an annual incentive worth up to 200% of her salary and, subject to shareholder approval, a long-term incentive award of up to 550% of her salary. She will be required to build a shareholding equivalent to 550% of her salary.
This appointment reunites Wilson with Sir Dave Lewis, as they previously worked together at Tesco. Wilson's past experience includes senior finance and commercial roles at Britvic, Dunnhumby, Tesco, and KPMG, where she qualified as a chartered accountant. She also serves as a non-executive director of Informa PLC. Lewis stated that Wilson's experience in transformation will be crucial in supporting Diageo's turnaround following the recent unveiling of its new strategy. Jhangiani will remain in his role during the transition period to ensure a smooth handover, and he will remain eligible for a prorated annual bonus for the year ending June 2027, with outstanding long-term incentive awards subject to existing performance conditions.
