Diageo picks Xerox executive as finance chief

Spirits giant Diageo has appointed Kathryn Mikells as chief financial officer with effect from 9 November.

Diageo has named its new chief financial officer

Mikells joins from Xerox Corporation, where she has been finance chief since May 2013.

Her appointment will see Diageo’s current chief financial officer, Deirdre Mahlan, step down from her role and the board of the Johnnie Walker and Guinness maker, but she is poised to become president of Diageo North America.

Mikells said: “This is a unique opportunity to work for a company with leading consumer brands, unparalleled global reach and the marketing and innovation agility to drive performance locally. Diageo has a clear and compelling strategy and I am looking forward to working with Ivan and the team to deliver it.”

Diageo, Scotland’s largest distiller, last month warned that the strong pound will knock its profits by £150 million this year, some £50m more than previously expected.

Chief executive Ivan Menezes said today: “Diageo is focused on driving performance from our core and on improving productivity to drive out cost to invest in growth.

“Kathryn has the experience of working with teams to drive disciplined performance management, which will contribute to the achievement of our performance ambition. We are starting to see the benefits of the changes we have put in place and I am confident we are uniquely positioned to take advantage of this growth sector.”