TWE will have a new CFO from next month

TWE will have a new CFO from next month

Treasury Wine Estates has appointed the man who played a key role in its demerger from the Foster's Group as its new CFO. 

Tony Reeves, currently a director at private bank PBS, will replace Mark Fleming on 1 July, the company announced today (5 June). Fleming, who joined TWE as CFO two years ago, is leaving to pursue "new opportunities", the company said. 

Reeves, who was CFO of Foster's Group between November 2010 and May 2011, will report directly to David Dearie, TWE's CEO. 

Dearie said: “I had the privilege of working briefly with Tony during the creation of Treasury Wine Estates and am delighted to be able to have the opportunity to work alongside him on a permanent basis, as I feel that now is the right time for a highly experienced CFO to help TWE transition to the next stage of its commercial development." 

In its last set of results in February, Treasury reported a slide in first-half net profits and sales

To read an exclusive interview with TWE's EMEA & global travel retail MD, Andrew Carter, click here