Diageo’s chief financial officer, Nick Rose, is to stand down later this year.

Rose will be replaced by Diageo’s deputy finance director, Deirdre Mahlan, following the drinks giant’s annual general meeting scheduled for 14 October.

Rose, 52, will then leave the Smirnoff and Guinness maker at the end of December. While he is currently also on the board of BAE, it is understood that Rose will only consider non-executive roles in the future.

“Nick has made the decision to leave Diageo after 18 very successful years,” said Diageo CEO Paul Walsh. “Over the last 13 years as CFO he has built a very strong finance function of which he and Diageo can be proud.”

He added: “Deirdre joined Diageo having worked for the Seagram Company since 1992. She has held a number of senior finance positions in Diageo including Finance Director of our biggest region, North America, and as Global Head of Tax, of Treasury and of Shared Services.”

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