Five Southcorp directors have stepped down from the wine company's board. Foster's Group, which upped its holding in Southcorp to 91% today (26 May), has consolidated its ownership by appointing three directors to the wine group's board.

Among the five that have resigned is chief executive John Ballard.

The Foster's appointees include president Frank Swan and chief executive Trevor O'Hoy. Southcorp chairman Brian Finn will remain with the company, with present secretary Martin Hudson acting as interim chief executive.