Nik Jhangiani, a top Indian-origin business leader in India, has made global news for his position as the interim chief executive officer of Diageo, the world's largest liquor company. The move is a milestone for British drinks giant Diageo, whose brands include iconic Johnnie Walker and Guinness.
Jhangiani is a seasoned consumer goods and beverage company executive with over 30 years of experience on several continents and among the most recognized brands in the world. His career path is a blueprint for consistent advancement and global flexibility:
Early career: Jhangiani started his career at Colgate-Palmolive, building an early resume in financial operations.
Bharti enterprises: Subsequently, he also held other senior leadership roles at Bharti Enterprises in India, where he developed experience working in high-growth emerging markets.
Coca-Cola: Jhangiani held 12 years of senior finance positions within Coca-Cola, including being the CFO of Coca-Cola Europacific Partners—the world's largest bottler of Coca-Cola. He led the finances of companies that generate more than €18 billion in revenue and led large US, European, Indian, and African organizations.
Diageo: Jhangiani came to Diageo as CFO in September 2024, a position through which he steered the company through recent turmoil.
Educated and born in India, Jhangiani is a graduate in commerce from Rutgers Business School and a New York certified public accountant. Why is he in the news?
The group CEO saw revenues and its stock price plummet sharply, spooking investors into demanding a $500 million cost-cutting program.
Her predecessor, Debra Crew, resigned after a tumultuous time with more difficult market conditions in addition to investor unrest.
Jhangiani is seen as well placed as a steadying influence, possessing attributes of straightforward language, thoughtful strategy, and large-consumer business expertise—qualities that are said to be essential in restoring Diageo's confidence at its highest levels.
His induction is widely looked up to not just for the immediate corporate impact, but as the latest example of Indian-origin business chiefs leading some of the world's leading multinational corporations.
Nik Jhangiani is holding the fort on an interim basis until Diageo's board completes a worldwide search for a permanent chief executive. Although "interim" is his title, his extensive industry experience, international leadership history, and strong hand during times of turmoil have made him the leading candidate to replace Paul Walsh permanently. Business and investment communities are keeping close tabs on his every move as he navigates Diageo through this sensitive period of transition.
According to Diageo’s Directors’ Remuneration Report for 2024, Nik Jhangiani’s CFO remuneration package included:
Annual salary: £900,000
Pension contribution: 14% of base salary
Performance bonuses: Eligibility for annual incentives, long-term incentive plans, and shareholding as per company policy
Replacement awards: Granted for forfeited incentives upon joining Diageo from his prior employer.
Information on his overall CEO remuneration for the interim position remains awaited but would be as above or above, consistent with Diageo's executive remuneration practice.
Nik Jhangiani is an Indian-origin businessperson with more than three decades' experience in global consumer and beverage businesses. His appointment is seen as a watershed for both the company and the broader trend of Indian-origin executives shaping global business at the highest levels.