March 16 (Reuters) - Jack Daniel's maker Brown-Forman ( BF/A ) on Monday named long-time Whirlpool executive Jim Peters as its new finance chief, effective March 31.

He will succeed Leanne Cunningham, who will retire on May 1, the company said. Cunningham was the CFO for nearly five years, and has spent more than three decades at the company.

Brown-Forman's ( BF/A ) shares have slumped 68% during Cunningham's tenure, as the company has faced challenges with weak alcohol demand in several markets, including the U.S., with economic volatility further weighing on the industry.

The whiskey maker posted a quarterly results beat in early March but said it expects operating environment for fiscal 2026 to be challenging due to macroeconomic volatility and consumer uncertainty.

Peters, who spent a decade at Whirlpool, will resign from the company effective March 30, the home appliance maker said in a separate statement. He had stepped down as CFO of the company on December 31.