Brown‑Forman Corporation announced the appointment of Jim Peters, a longtime executive from Whirlpool, as its new chief financial officer, effective March 31, 2026. Peters joins the company after a distinguished career at Whirlpool, where he served as Executive Vice President, Chief Financial and Administrative Officer and led enterprise transformation initiatives. The appointment follows the retirement of current CFO Leanne Cunningham, who will step down on May 1, 2026.
The move comes as Brown‑Forman completes a 12 % workforce reduction and the closure of its Louisville‑based cooperage, initiatives that generated $60‑$70 million in restructuring charges and are expected to deliver $70‑$80 million in annualized cost savings. The company’s fiscal 2025 results reflected these changes, with net sales falling 5 % to $4.0 billion and diluted earnings per share declining 14 % to $1.84, largely due to the divestiture of Sonoma‑Cutrer and Finlandia and higher input costs.
Peters’ experience in navigating margin pressures and volatile consumer demand is seen as a key asset as the company faces ongoing macroeconomic uncertainty. “Jim is a seasoned financial leader who brings a proven track record of driving operational discipline and resilience through complex global cycles,” said CEO Lawson Whiting. “His expertise in managing margin pressures will be invaluable as we navigate today’s macroeconomic headwinds.”
The appointment signals Brown‑Forman’s intent to strengthen financial stewardship while maintaining focus on its premium whiskey core. In fiscal 2025, Woodford Reserve drove growth, whereas Jack Daniel’s Tennessee Whiskey and Korbel California Champagnes experienced volume declines in the U.S. Emerging markets such as Turkey and Brazil showed double‑digit growth, offsetting domestic softness. Peters will oversee the integration of these dynamics and the execution of the company’s cost‑saving plan.
Analysts note that the CFO change comes at a time when the company’s operating income fell 22 % to $1.1 billion, reflecting the impact of restructuring charges and higher input costs. The company’s gross margin contracted 150 basis points in fiscal 2025, with cost increases accounting for 2.5 percentage points and foreign‑exchange effects adding another 0.7 percentage point. Peters’ track record in cost control and margin management is expected to help stabilize margins in the coming year.
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