Xerox Corporation has announced in a press release that Kathryn Mikells, the CFO of the company, will be stepping down to pursue other professional opportunities.
Mikells will be joining Diageo, the maker of the Johnnie Walker whisky, as their CFO.
Xerox said in their own press release that Mikells will remain with the company until Oct. 31, 2015, to ensure a smooth transition of responsibilities.
Leslie Varon, the vice president of Investor Relations at Xerox, will serve as interim CFO until a permanent successor has been named.
Ursula Burns, the chairman and CEO of Xerox, said in their press release that they are thankful for Mikells' contributions.
"As part of the leadership team, Kathy has helped bring additional focus to the execution of our strategic priorities and attract new talent to the company while ensuring disciplined financial management," Burns said.
Mikells will start working at Diageo on November 9, 2015, and will be based in London, according to a press release issued by Diageo.
Mikells has been Xerox's CFO since May 2013.
Ivan Menezes, the CEO of Diageo, said in their own press release that they are delighted at the arrival of Mikells.
"Kathryn has the experience of working with teams to drive disciplined performance management which will contribute to the achievement of our performance ambition," Menezes said. "Diageo is focused on driving performance from our core and on improving productivity to drive out the cost to invest in growth."
Mikells said in a press release issued by Diageo that she is excited to be working at Diageo.
"Diageo has a clear and compelling strategy and I am looking forward to working with Ivan and the team to deliver it," she said.
Reuters adds that Mikells will be replacing Deidre Mahan, who is moving to the U.S. to oversee Diageo's business in North America.
The company's sales of its biggest brands have struggled due to increased competition in vodka.
Reuters adds that Diageo has also been under scrutiny from U.S. regulators.
Regulators are seeking information regarding the company's sales practice.
