Javier Ferran, a founder partner at Lion Capital private equity group since 2005, and before that with drinks giant Bacardi for a decade, latterly as chief executive, will become a non-executive director at Diageo on 22 July.
He will become chairman at the group, which employs some 4,000 people in Scotland, on 1 January 2017.
Lord Davies of Abersoch, chairman of Diageo’s nominations committee, said he was “delighted” at Ferran’s appointment.
“He has experience across the consumer sector, and he has demonstrated his ability to enable companies to drive value through the rigorous deployment of capital,” Lord Davies said.
Ferran, whose other non-executive directorships include Associated British Foods, said it would be “a privilege” to chair Diageo.