With the Diageo (LSE: DGE) share price trending down, the company announced Friday (3 May) that Nik Jhangiani will become chief financial officer (CFO) in the autumn. Can Jhangiani help to reverse the fortunes of the ailing premium alcoholic drinks business? It’s possible. He’ll be part of the top team of executives and likely involved in strategic decision making. Since 2016, he’s been CFO at Coca-Cola Europacific Partners, “the world’s largest Coca-Cola bottler”.  He’s got 20 years’ experience under his belt in CFO roles and has spent most of his career in consumer and beverage industries. The appointment looks like a good fit for Diageo. Chief executive Debra Grew said Jhangiani’s experience and international mindset will make him a “strong addition” to the leadership team. For me, Diageo’s declining share price has been painful to watch. I’ve written much about the strength of the firm’s brands and the company’s defensive qualities. However, my assumptions about the business are being challenged. The situation is a reminder to me that even Diageo can lose money for investors. All stocks carry risk as well as sometimes having positive potential – even the traditional defensives. Near 2,750p, the stock’s down around 25% over the...