Diageo Appoints WPP CFO Joanne Wilson to Lead Turnaround

Diageo announced on September 23, 2026, that Joanne Wilson will join the company as its new chief financial officer, replacing Nik Jhangiani. Wilson, currently the CFO of WPP, is expected to join the board and executive committee in 2027. She will receive an annual salary of £900,000, with maximum potential earnings of £4.95 million.

Wilson reunites with Diageo CEO Sir Dave Lewis, with whom she previously held senior leadership roles at Tesco. The appointment comes as Diageo implements a broad turnaround strategy to combat declining spirits demand and growth headwinds in international markets. This plan includes a $1 billion savings initiative and significant workforce reductions, including nearly 2,000 jobs in the last financial year and 300 recent cuts in North America. The company is also managing labor strikes within its Scotch whisky business.

At WPP, Wilson helped implement the Elevate28 growth strategy during a period when the company reported a 4.7% decline in first-half revenue to £4.75 billion. She will remain at WPP for a notice period of up to 12 months to ensure a smooth handover while the board searches for her successor. Jhangiani, who joined Diageo in September 2024 and served as interim CEO in 2025, will remain in his post until Wilson's arrival.