Guinness maker Diageo named WPP's Joanne Wilson to succeed Nik Jhangiani as its next chief financial officer, picking a consumer-industry veteran to help deliver a new sales revival strategy.

The spirits company, home to Smirnoff vodka and Johnnie Walker whisky, said Wilson would join as CFO and assume roles on the board and executive committee at some point in 2027.

The appointment is set to end Jhangiani's tenure at Diageo, which started two years ago when he joined from Coca-Cola Europacific Partners.

Jhangiani was interim chief executive last year, and some analysts had seen him as a contender to keep the top job on a permanent basis, prior to Dave Lewis's appointment in November. When former Tesco CEO Lewis took over the position, Jhangiani resumed his role as finance boss.

"Nik and I have agreed that, now we have shared our new strategy, this is the right time for this change," Diageo's Lewis said.

Jhangiani said Wednesday that he was proud to be part of presenting the three-year financial plan to investors, including progress on strengthening the company's balance sheet.

Wilson is currently CFO at British advertising group WPP, a company that earlier this year laid out its own turnaround program. WPP said Wednesday that it had begun a formal search process to replace Wilson, and that she would remain in her role while her successor is appointed.

With her new role at Diageo, Wilson will return to the drinks industry and reunite with her former boss Lewis. She previously held financial and commercial roles at U.K. drinks company Britvic--now owned by Carlsberg--and grocer Tesco.

Under Lewis and Jhangiani's leadership, Diageo has crafted a new plan to save $1 billion over the next few years, in a sweeping turnaround plan that includes job cuts.

Unveiled in August, the plan aims to invest in a turnaround without compromising operating profit. A major priority is to improve its North America performance, where sales dropped more than 8% in fiscal 2026.

Jhangiani's departure is likely to be received negatively among investors, as a central figure in shaping Diageo's new strategy, Jefferies analyst Edward Mundy said in a note. "[Jhangiani] is well-regarded by investors for his focus on execution, growth and cash delivery," Mundy wrote after the news Wednesday.

At the end of its most recent fiscal year, the London-listed group's net sales fell 2% organically from the year prior. Operating profit fell 27% to $3.16 billion for the year, associated in part with the restructuring costs.