AUS: Penfolds MD leaves Treasury Wine Estates
TWE has parted company with the head of its Penfolds brand
The head of Treasury Wine Estates' Penfolds wine brand has left the company with “immediate effect” after a year in the role, the company has confirmed.
Gary Burnand, who became MD of the brand last March, will be replaced by Simon Marton, head of TWE's Wolf Blass unit, while the group seeks a permanent replacement. Burnand, who joined the company in December 2011, reported in to TWE chief executive David Dearie.
In an email to staff, reported by The Australian, Dearie wrote: “Following discussion over the future strategic direction of Penfolds, we both felt that now was the right time for Gary to leave Treasury to pursue other opportunities."
A TWE spokesperson has confirmed the story to just-drinks, but said the company is not issuing a media statement.
Burnand was responsible for “setting and driving the strategic direction” of the Penfolds brand.
The company, which broke off from Foster's Group in 2011 to become a standalone company, did not comment on Penfold's performance in its first-half results statement last month, as it saw group sales and profits slide.
Bibendum Wines took on the distribution of Penfolds in the UK last month.
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