Treasury Wine Estates will have its second chairman in place in September

Treasury Wine Estates will have its second chairman in place in September

Treasury Wine Estates (TWE) has announced it has found a new chairman to replace Max Ould.  

Paul Rayner, a non-executive director at the Melbourne-based winemaker and distributor, will succeed Ould, the group's first-ever chairman, on 1 September, the company said today (20 July). 

Ould, who has been in the post since May last year, said: "It has been both a pleasure and a privilege to have served as the first chairman of Treasury Wine Estates and it is with comfort and confidence that I pass the baton on to Paul." 

The company is also appointing three non-executive directors - Ed Chan, Garry Hounsell and Michael Cheek - who will also take up their positions from September. 

Earlier this month, TWE revealed that Stephen Brauer, MD of its Beringer unit, had left the firm to pursue "external opportunities"