(Reuters) -Diageo CEO Debra Crew has stepped down and finance chief Nik Jhangiani has taken over in the interim, the company said on Wednesday, as the world’s biggest spirits maker strives to boost performance and cut debt.
The maker of Johnnie Walker whisky and Guinness beer is in the midst of a turnaround plan, targeting $500 million in cost savings after underperformance shaved off more than 20% from its share price in the last 12 months.
Crew had taken charge as CEO two years ago.
WHO IS NIK JHANGIANI?
Jhangiani is a graduate of Rutgers Business School, Newark, New Jersey, and is a certified public accountant in the state of New York. He began his career at Deloitte and went on to hold finance roles at Bristol Myers Squibb and Colgate-Palmolive, where he was the group financial director for Nigeria.
In a career spanning more than 30 years, he has held senior finance leadership roles across the U.S., Europe, India and Africa and is credited with overseeing major capital markets activity, acquisitions and strategic transactions.
CAREER PATH:
* July 2004 – April 2009: Group chief financial officer, Coca-Cola HBC
* May 2009 – February 2012: Group chief financial officer, Bharti Enterprises
* September 2012 – December 2012: Chief financial officer, Coca-Cola European Partners
* January 2013 – June 2016: Senior vice president and chief financial officer, Coca-Cola Enterprises
*June 2016 – September 2024: Senior vice president and chief financial officer, Coca-Cola Europacific Partners
* September 2024 – present: Chief financial officer, Diageo Sources: LinkedIn, company websites
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Pooja Desai)
