Diageo brings in former Britvic executive Joanne Wilson as CFO

Diageo (DGE.L) announced Joanne Wilson will become its CFO in 2027, replacing Nik Jhangiani. Wilson currently serves as CFO at WPP and has held roles at Britvic, Tesco, and KPMG. Jhangiani will assist in the transition. Wilson's appointment is part of Diageo's strategy to accelerate its turnaround and create shareholder value.

Joanne Wilson, CFO of WPP, is reportedly set to become CFO of Diageo. Wilson's move comes as Diageo undergoes restructuring and WPP faces competition. Diageo shares are up 2% year-to-date, while WPP shares have rebounded 14% after a 59% drop in 2025. Neither company has confirmed the appointment.

Kenya approved Asahi Group's $2.3B acquisition of Diageo's 65% stake in East African Breweries Limited, with conditions to maintain market competition and supply continuity. The deal faced legal challenges but was finalized after regulatory approval. According to Diageo, the sale is part of its strategy to exit the African market.

The Scotch Whisky Association (SWA), representing 90 companies like Diageo, opposes English whisky's protected status, citing inconsistent rules. SWA argues this could undermine Scotch whisky's reputation. England has over 70 distilleries, with supporters defending the decision, citing no economic impact and quality awards. Politicians urge cooperation between the industries.

Kenya's anti-trust authority approved Diageo's sale of its 65% stake in East African Breweries (EABL) to Asahi Group Holdings. The $2.3bn deal includes Diageo's 53.7% share in Kenyan spirits group UDVK. Diageo and Asahi confirmed the approval, with a legal challenge still pending. Asahi plans to maintain EABL's public listing and not exceed its 65% stake.

Kenya approved Diageo's sale of its stake in East African Breweries (EABL) to Japan's Asahi Group. Diageo will receive $1.05 billion for its 23.3% stake, according to the companies. The deal is expected to close in the first half of 2024.