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Coca-Cola Europacific Partners plc revealed that its chief financial officer, Nik Jhangiani, has resigned. The British-American company, formed through the merger of three main bottling companies for The Coca-Cola Company in Western Europe, said the outgoing CFO is set to leave the group later this year.
CFO's Departure and Hunt for His Successor
Jhangiani is also currently serving as Coca-Cola Enterprises, Inc.'s senior vice president. The beverage manufacturing company said it has launched the search for a new CFO, and candidates have already been identified. With this development, CCEP is expected to announce Jhangiani's successor soon.
Even after his resignation is announced, Jhangiani will remain in the company to ensure a smooth leadership transition. He is also the company's culture and heritage inclusion executive sponsor.
"I have been privileged to work closely with Nik for nearly a decade and I want to thank him for his outstanding contribution to CCEP and the wider Coca-Cola system," CEEP's chief executive officer, Damian Gammell, said in a press release via Actusnews Wire. "He has developed a strong team and we have great talent at CCEP who will continue to drive the fantastic business we have become today."
Move to Diageo as New Finance Chief
Nik Jhangiani is leaving Coca-Cola Europacific Partners to join Diageo plc. The Johnnie Walker and Guinness beer manufacturer announced on Friday, May 3, that it has appointed him as its new chief financial officer. He will replace Lavanya Chandrashekar, who is stepping down from the CFO role she held for three years.
In welcoming Jhangiani, Diageo's chairman, Javier Ferrán, said in a statement, "I look forward to welcoming Nik to Diageo, and to the Board. I am confident that his record of success as a CFO in multiple relevant markets and sectors will further strengthen our long-term track record of delivering long-term sustainable returns for our shareholders."
Photo by: Maximilian Bruck/Unsplash
