Diageo Names Deirdre Mahlan Interim CFO Starting August 18, 2025

Diageo has appointed Deirdre Mahlan as Interim Chief Financial Officer, effective August 18, 2025. Mahlan has extensive experience in the spirits industry and at Diageo, serving as CFO from 2010 to 2015. She also has broad consumer goods experience, having recently served as Interim President, CEO, and Chairperson of The Duckhorn Portfolio. Mahlan will take over the CFO role, bringing her knowledge and expertise to the position.

Diageo has appointed Deirdre Mahlan as its interim chief financial officer, effective from August 18, 2025. The move follows Mahlan's extensive experience in the spirits industry, having spent 27 years at Diageo or its predecessor companies, including five years as Group CFO between 2010 and 2015 [1]. She most recently served as Interim CEO and chair of The Duckhorn Portfolio, a U.S.-based luxury wine company that was acquired by private equity firm Butterfly Equity for $1.95 billion last October [1].

Mahlan’s appointment comes as a replacement to former-CFO Nik Jhangiani, who is currently serving as interim CEO. Jhangiani, who took over the role following the resignation of Debra Crew after two years as CEO, has praised Mahlan's extensive spirits and functional expertise, as well as her deep knowledge of Diageo and its operations [2]. The appointment aims to ensure continuity in Diageo’s financial leadership following recent senior changes at the FTSE 100 firm.

Until a permanent CEO and CFO are appointed, Mahlan will be responsible for taking over a plan set by Jhangiani to get the company’s finances in order. Jhangiani has promised to cut costs and sell assets in a bid to reduce Diageo’s debts, which had crept above the company’s target range and concerned some investors, as well as to deliver higher free cash flows [2]. Diageo reports full-year results on August 5, and the company’s shares were flat at 11.52 GMT as of July 2.

References:
[1] https://www.grocerygazette.co.uk/2025/07/30/diageos-new-interim-cfo/
[2] https://www.checkout.ie/drinks/diageo-names-deirdre-mahlan-as-interim-cfo-219854