At a Glance

  • Jim Peters, a longtime Whirlpool finance executive, willbecomethechief financial officerof spirits maker Brown-Forman, effective March 31. The Jack Daniel's parent company confirmed the news in a press release and securities filing on Monday.
  • Peters will succeed Leanne D. Cunningham. Cunningham announced in August her plans to retire from her role as executive vice president and CFO of the Louisville, Kentucky-based company, a position she held for four years. According to a Securities and Exchange Commission filing, Cunningham will officially leave the company on May 1.
  • Brown-Forman CEO and President Lawson Whiting said in a statement in the press release that Peters' "expertise in navigating margin pressure and fluctuating consumer demand across North America, Europe, and Asia will be invaluable as we navigate current macroeconomic headwinds. Beyond his technical depth, Jim is a values-driven leader deeply committed to developing the next generation of talent."

Deep Dive

Before joining the beverage company, Peters spent more than two decades at Whirlpool, including a decade as its CFO since 2016, according to the company's bio page. He was appointed executive vice president of enterprise transformation at the appliance maker on January 1 and held various roles since joining Whirlpool in 2004—including regional CFO for its North America and Europe, Middle East and Africa segments.

As Brown-Forman's CFO, Peters will receive an annual base salary of $825,000, plus a "holiday bonus" of $17,160, according to the SEC filing. He will also be eligible for a short-term incentive opportunity of $825,000 and a long-term incentive opportunity of $2.4 million.

The filing also shows Peters will receive a one-time new-hire equity grant, including restricted stock units valued at $900,000, as well as a stock-settled stock appreciation rights award for fiscal 2026 valued at $66,000 and a restricted stock unit award for fiscal 2026 of $134,000.

The spirits maker will rely on Peters' financial and technical expertise as it continues to navigate the economic impact of tariffs and trade policy changes, as well as shifts in consumer spending and consumption habits. In its recent fiscal 2026 third-quarter earnings report, Brown-Forman provided a year-to-date financial update for the nine months ended January 31, in whichnet sales decreased 2%to $3 billion. Operating income was flat at $905 million for the same period, according to the earnings report released March 4.

The company primarily attributed its sales decline to the termination of its partnership with Korbel Champagne Cellars, according to its earnings report. Brown-Forman also noted that net sales growth in its emerging markets and travel retail channels "was offset by declines in the United States and developed international markets."

"Our global footprint shows a clear divergence in consumer behavior," Whiting said on the third-quarter earnings call, according to a transcript. "While macro uncertainty continues to weigh on discretionary spending in the U.S. and many developed markets, we are seeing significantly stronger and more resilient consumer trends in key emerging international markets and the travel retail channel."

Brown-Forman declined to comment further on the CFO appointment beyond its press release.