AUSTRALIA: Southcorp chairman to retire early
The chairman of Southcorp intends to retire early if re-elected next month. In a letter to shareholders today (22 September), Finn, 67, announced his intention to retire before the end of his three-year term if shareholders re-elect him at the company's annual meeting.
One third of the company's nine directors have been appointed in the last 12 months "in a manner that preserves stability and continuity," Finn said, as well as ensuring an orderly transfer of authority.
"The board is continuing this process, and although I am seeking re-election at the annual general meeting, I intend to step down as chairman and as a director before the end of the three-year term," he added.
Finn has been a director of Southcorp since 1994 and chairman since November 2002.
The winemaker has reiterated that it hopes to make a single dividend payment to shareholders in its current fiscal year "as a first step toward resuming more normal returns." Last month, Southcorp posted a full year net profit of A$46.2m after a loss of A$922.9m a year earlier.
- Ten questions for Diageo - Analysis
- Have spirits companies forgotten the mainstream?
- How craft beer has shattered its US shackles
- Ashwagandha - The next functional drinks trend?
- New CEO sparks optimism at Coca-Cola - Analysis
- Moet Hennessy unaffected by LVMH Dior buy
- BrewDog moves into spirits with LoneWolf launch
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Johnnie Walker Bourbon Cask & Rye Finish - NPD
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Craft Beer: Coming of Age or Past Its Prime?
- Myanmar - ISA Country Report