Jim Peters appointed Brown-Forman (NYSE: BF) chief financial officer

Rhea-AI Filing Summary

Brown-Forman Corporation has elected Jim (James) W. Peters as Executive Vice President and Chief Financial Officer, effective March 31, 2026. He will become the company’s principal financial officer and join the senior executive team, reporting to President and CEO Lawson Whiting.

Peters succeeds Leanne D. Cunningham, who will retire effective May 1, 2026, allowing for a short transition period. He brings extensive experience from Whirlpool Corporation, where he served as Executive Vice President, Chief Financial and Administrative Officer and most recently led enterprise transformation initiatives.

His compensation package includes an annual base salary of $825,000, a holiday bonus of $17,160, target short-term incentive of $825,000, and target long-term incentive of $2,400,000. He will also receive a one-time RSU award valued at $900,000 plus prorated equity awards with grant date values of $66,000 and $134,000, vesting over multiple years.

Insights

Corporate governance and executive compensation analyst

Brown-Forman names an experienced external CFO with a sizable equity-aligned pay package.

Brown-Forman is installing Jim Peters, a long-tenured Whirlpool finance leader, as Executive Vice President and CFO, effective March 31, 2026, following Leanne Cunningham’s planned retirement on May 1, 2026. The brief overlap supports an orderly transition rather than an abrupt leadership change.

The compensation mix emphasizes variable and equity-based pay: base salary of $825,000, target short-term incentive of $825,000, and target long-term incentive of $2,400,000. A one-time RSU grant of $900,000 plus prorated SSAR and performance-based RSU awards of $66,000 and $134,000 align his interests with long-term shareholder outcomes.

The equity awards vest over several years, tying a meaningful portion of Peters’ total compensation to sustained performance and continued service. Actual impact on Brown-Forman’s strategy and financial profile will depend on how he applies his experience with cost discipline, global operations, and transformation in future periods.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

March 16, 2026

Brown-Forman Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware

001-00123

61-0143150

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

850 Dixie Highway,

Louisville,

Kentucky

40210

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (502) 585-1100

Not Applicable

(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class A Common Stock (voting), $0.15 par value			BFA			New York Stock Exchange
Class B Common Stock (nonvoting), $0.15 par value			BFB			New York Stock Exchange
1.200% Notes due 2026			BF26			New York Stock Exchange
2.600% Notes due 2028			BF28			New York Stock Exchange

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 16, 2026, Brown-Forman Corporation (the “Company”) announced the election of James W. Peters as the Company’s Executive Vice President and Chief Financial Officer, effective March 31, 2026. Mr. Peters will succeed Leanne D. Cunningham, Executive Vice President and Chief Financial Officer, who, as previously announced, will retire from the Company, effective May 1, 2026. In connection with his election, Mr. Peters will serve as the Company’s principal financial officer.

Mr. Peters, age 56, has served as Executive Vice President, Enterprise Transformation of Whirlpool Corporation, a publicly traded home appliance company, since January 2026. Mr. Peters previously served as Executive Vice President, Chief Financial and Administrative Officer of Whirlpool Corporation from August 2016 through December 2025. Mr. Peters joined Whirlpool Corporation in 2004 and, prior to his appointment as Chief Financial Officer, held various roles of increasing responsibility. Prior to joining Whirlpool Corporation, he was a manager of Internal Audit for Limited Brands and a consulting manager at Ernst & Young LLP. Mr. Peters holds a Bachelor’s in Accounting and Business Administration from the University of Kansas and a Master’s in Business Administration in Finance from Indiana University.

In connection with his election as Executive Vice President and Chief Financial Officer of the Company, Mr. Peters’ annual base salary will be $825,000 and his holiday bonus will be $17,160. His short-term incentive compensation opportunity at target will be $825,000, and his long-term incentive plan compensation opportunity at target will be $2,400,000. Mr. Peters will also receive (i) a one-time new hire equity award in the form of restricted stock units (“RSU Award”) with a grant date value of $900,000 (based on the 20-day trailing closing price of a share of the Company’s Class B common stock leading up to the grant date), (ii) a fiscal year 2026 prorated Class B common stock-settled stock appreciation right award (“SSAR Award”) with a grant date value of $66,000, and (iii) a fiscal year 2026 prorated Class B common stock performance-based restricted stock unit award (“PBRSU Award”) with a grant date value of $134,000. The RSU Award is expected to be granted in July 2026 in connection with the Company’s regular annual equity grants, and it will vest in three equal installments on April 30, 2027, April 30, 2028, and April 30, 2029. The prorated SSAR Award and the prorated PBRSU Award will be granted in April 2026. Consistent with the terms of the Brown-Forman 2022 Omnibus Plan, the prorated SSAR Award and the prorated PBRSU Award will be subject to the same vesting schedule as all other similar equity awards granted to the Company’s executive officers during fiscal year 2026.

Details regarding the Company’s executive compensation program are included in the Compensation Discussion and Analysis section of the Company’s definitive proxy statement for the Company’s 2025 annual meeting of stockholders filed with the Securities and Exchange Commission on June 20, 2025.

There are no arrangements or understandings between Mr. Peters and any person pursuant to which he was selected as an officer. There are no family relationships between Mr. Peters and any director or executive officer of the Company, and there are no related party transactions involving Mr. Peters that are reportable under Item 404(a) of Regulation S-K.

Item 7.01. Regulation FD Disclosure.

In connection with Mr. Peters’ election, the Company issued a press release on March 16, 2026, a copy of which is attached as Exhibit 99.1 and incorporated by reference in Item 7.01 of this Current Report on Form 8-K.

The information furnished pursuant to this Item 7.01 (and the related information in Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.						Description
99.1						Brown-Forman Corporation Press Release dated March 16, 2026.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BROWN-FORMAN CORPORATION
			(Registrant)
Date: March 16, 2026			/s/ Michael E. Carr, Jr.
			Michael E. Carr, Jr.
			Executive Vice President, General Counsel and Corporate Secretary

NEWS RELEASE

BROWN-FORMAN NAMES JIM PETERS CHIEF FINANCIAL OFFICER

LOUISVILLE, KY – March 16, 2026 – Brown-Forman Corporation (NYSE: BFA, BFB) today announced the election of Jim Peters as its new Executive Vice President and Chief Financial Officer (CFO), effective March 31, 2026. As CFO, Peters will join the senior executive team and report to President and CEO Lawson Whiting.

Peters joins Brown-Forman following a distinguished career at Whirlpool Corporation, where he most recently led enterprise transformation initiatives as Executive Vice President. He succeeds Leanne Cunningham, who will retire effective May 1, 2026.

"Jim is a seasoned financial leader who brings a proven track record of driving operational discipline and resilience through complex global cycles,” said Lawson Whiting, President and CEO, Brown-Forman Corporation. “His expertise in navigating margin pressures and volatile consumer demand across North America, Europe, and Asia will be invaluable as we navigate today’s macroeconomic headwinds. Beyond his technical depth, Jim is a values-based leader with a strong commitment to developing the next generation of talent."

Prior to his most recent role, Peters served as Whirlpool’s Executive Vice President, Chief Financial and Administrative Officer. In that capacity, his accountability extended beyond finance to legal, IT, and corporate strategy. He was also previously responsible for corporate relations and sustainability. Jim originally assumed the CFO role at Whirlpool in 2016.

“I am honored to join Brown-Forman, a company with such a rich heritage and iconic portfolio of brands,” said Peters. “I look forward to working with Lawson and the entire team to build upon the company's strong foundation and to continue delivering sustainable value for our shareholders and stakeholders worldwide.”

Peters’ tenure at Whirlpool included serving as Vice President, Corporate Controller, and Chief Accounting Officer beginning in 2015. Previously, he was CFO of the Whirlpool North American region, where he managed a finance organization of more than 300 people and oversaw strategic planning, budgeting, and forecasting. He also held the role of Vice President and CFO of Whirlpool’s EMEA region starting in 2008. Before joining the company in 2004, Peters held management positions at Limited Brands and Ernst & Young.

Peters earned a Bachelor’s degree in Accounting and Business Administration from the University of Kansas and a Master of Business Administration from the Indiana University Kelley School of Business.

About Brown-Forman

Brown-Forman Corporation is a global leader in the spirits industry, responsibly building exceptional beverage alcohol brands for more than 155 years. Headquartered in Louisville, Kentucky, we are guided by our founding promise, “Nothing Better in the Market.” Our premium portfolio includes the Jack Daniel’s Family of Brands, Woodford Reserve, Old Forester, New Mix, el Jimador, Herradura, The Glendronach, Glenglassaugh, Benriach, Diplomático Rum, Gin Mare, Fords Gin, Chambord, and Slane. With approximately 5,000 employees worldwide, we proudly share our passion for fine-quality spirits in more than 170 countries. Learn more at brown-forman.com and stay connected with us on LinkedIn, Instagram, and X.

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Contacts:

Elizabeth Conway, Director, External Communications

Elizabeth_Conway@b-f.com

Sue Perram, Vice President, Investor Relations

Sue_Perram@b-f.com

Important Information on Forward-Looking Statements:

This press release contains statements that are “forward-looking statements” as defined under U.S. federal securities laws. These forward-looking statements reflect management’s expectations or projections regarding future events and speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections.

For further information on factors that could cause our actual results to differ materially from our historical experience or from our current expectations or projections, please refer to our public filings, including the “Risk Factors” section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

FAQ

Who is Brown-Forman (BF) appointing as its new CFO?

Brown-Forman is appointing Jim (James) W. Peters as Executive Vice President and Chief Financial Officer, effective March 31, 2026. He joins from Whirlpool Corporation, where he held senior finance and transformation roles, and will report directly to President and CEO Lawson Whiting.

When will Jim Peters assume the CFO role at Brown-Forman (BF)?

Jim Peters will become Brown-Forman’s CFO on March 31, 2026. Outgoing CFO Leanne Cunningham will retire effective May 1, 2026, creating a brief transition period where both executives are with the company to support continuity in the finance function.

What is Jim Peters’ compensation as Brown-Forman (BF) CFO?

Jim Peters will receive an annual base salary of $825,000, a holiday bonus of $17,160, target short-term incentive of $825,000, and target long-term incentive of $2,400,000. He will also receive several equity awards with specified grant date values and multi-year vesting.

What equity awards will Brown-Forman (BF) grant to new CFO Jim Peters?

Jim Peters will receive a one-time RSU award valued at $900,000, a prorated stock appreciation right award valued at $66,000, and a prorated performance-based RSU award valued at $134,000. These grants vest over several years, aligning his pay with long-term performance.

When will Brown-Forman’s new CFO equity awards vest?

The one-time RSU award for Jim Peters is expected to vest in three equal installments on April 30, 2027, April 30, 2028, and April 30, 2029. The prorated SSAR and PBRSU awards follow the same vesting schedule as fiscal 2026 executive equity awards.

Does Jim Peters have any disclosed related party relationships at Brown-Forman (BF)?

The company states there are no arrangements or understandings with others related to Jim Peters’ selection, no family relationships with directors or executive officers, and no related party transactions involving him that are reportable under Item 404(a) of Regulation S-K.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 9.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 3.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 19.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 34.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 19.8 KB