Diageo to welcome Coca Cola’s Nik Jhangiani as CFO

Drinks supplier Diageo is appointing Nik Jhangiani as chief financial officer (CFO) from autumn this year.

 

Jhangiani is currently CFO at Coca-Cola Europacific Partners, the world’s largest Coca-Cola bottler, a role he has held since 2016.

 

Overall, he has more than 30 years of finance experience gained in roles in the UK, Europe, India, Africa and the US, including 20 years as a CFO, and has spent most of his career in consumer and beverage industries including 20 years within the Coca-Cola system.

 

Prior to his current role, Jhangiani was CFO and senior vice president at Coca-Cola Enterprises from 2013 to 2016, having joined in 2012. From 2009 to 2012 he was group CFO at Indian business group Bharti Enterprises.

 

He will replace Lavanya Chandrashekar, who will return to the US after her three-year tenure in the role and six years with the company in total.

 

Chandrashekar joined Diageo in 2018 as CFO North America and was appointed CFO of Diageo plc in July 2021. Lavanya has been key to the delivery of a 10.5% net sales value compound annual growth rate and has been instrumental in accelerating the drinks firm’s productivity agenda.

 

Diageo chief executive Debra Crew underlined Jhangiani’s proven track record in generating growth, adding: “Nik’s experience and international mindset will make him a strong addition to our leadership team.”

 

She also praised Chandrashekar’s leadership in helping to expand the business through the pandemic and delivering productivity savings.

 

Jhangiani himself said: “I look forward to working with my new colleagues to drive value for Diageo’s shareholders, and to support the company’s strong track record of building and sustaining exceptional brands.”

 

Chandrashekar added: “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 long-term success.”