Alcohol giant Diageo has poached Coca-Cola Europacific Partners finance boss Nik Jhangiani as its new chief financial officer.

Jhangiani will join the business this autumn and replaces current chief financial officer Lavanya Chandrashekar, who is leaving the group after six years.

Jhangiani has work has worked in senior roles within the Coca-Cola system for two decades, serving most recently as senior vice president and CFO for its Europacific Partners division.

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His appointment follows the arrival of new chief executive Debra Crew last June, who joined amid a period of uncertainty for the business following a period of disappointing sales performance.

Crew said Jhangiani had a “proven global track record of generating growth across multiple consumer businesses and industries”.

She added: “Nik’s experience and international mindset will make him a strong addition to our leadership team.”

“I am grateful to Lavanya for her leadership over the last six years and her contribution as Diageo successfully expanded our business through a global pandemic and delivered major productivity savings.”

Earlier this year, the alcohol giant appointed former UK civil service chief Sir John Manzoni as its new chair in a bid to recover and revive the business.