AUS: Two depart Treasury Wine Estates in executive shake-up
Treasury Wine Estates is involved in two lawsuits in the US
Treasury Wine Estates has trimmed its executive team, resulting in the departure of two of its regional heads.
Australia and New Zealand MD Chris Flaherty and Asia MD Anthony Davie leave with immediate effect, the Australian-based wine group said today (27 November). “Wine is a complex business and to deliver on TWE’s strategic growth ambitions we need to ensure that our management structure is as simple and effective as possible,” said CEO Warwick Every-Burns.
The changes are part of an overhaul of TWE's senior management that sees the establishment of a new global marketing function that puts all brands and marketing teams into one unified structure. Simon Marton, head of TWE's Wolf Blass and Penfolds units, moves to become CMO, with the Penfolds, Rosemount, Lindeman’s, Wolf Blass and Beringer brand teams placed under his leadership.
Previously, TWE's executive team included the leaders of five brand units and four regional units. Those nine units have now been condensed to three - one CMO and two regional chief commercial officers, TWE said.
The two regional CCOs are Sandra LeDrew, who continues to head up the Americas, and Andrew Carter, who leads Asia-Pacific/Europe and Middle East & Africa. Carter was previously TWE's MD for Europe, Middle East and Africa.
“I now have seven direct reports compared to the previous thirteen; with each person on my new leadership team having clear responsibility and accountability for a distinct function or geographic region,” Every-Burns said.
TWE told just-drinks today that the remaining three brand MDs will stay with the company. Rosemount head Angus McPherson has been appointed GM for Australia and New Zealand while Lindeman’s Michelle Terry is director marketing strategy, digital and brand homes. Beringer head John Grant is now senior VP marketing, Americas.
TWE’s new executive leadership team is as follows:
- Chief executive officer: Warwick Every-Burns
- Chief financial officer: Tony Reeves
- Chief legal officer: Paul Conroy
- Chief supply officer: Stuart McNab
- Chief human resources officer: Megan Collins
- Chief marketing officer: Simon Marton
- Chief commercial officer - APAC/EMEA: Andrew Carter
- Chief commercial officer - Americas: Sandra LeDrew
TWE is facing two lawsuits over allegations involving its business practices in the US. In July, the group announced that it was destroying its old and out-of-date stock in the US, resulting in a writedown of AUD160m (US$145.7m).
Treasury Wine Estates Ltd in Wine (World)
Treasury Wine Estates has faced serious challenges since its spin-off from Foster’s Group in 2011. The US, which was a key component of its turnaround plan, has thus far failed to pay dividends. In 20...read more
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