Delegat Group has formally appointed Murray Annabell as its new chief executive officer, effective from today (1 July).
He was made acting CEO earlier this year, following the departure of managing director Steve Carden at the end of January.
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Annabell has been with the New Zealand-based winemaker for over 20 years, including the last 13 years as chief financial officer, according to a New Zealand stock exchange filing.
According to the Oyster Bay brand owner, he has had “a pivotal role in shaping Delegat’s financial strategy and supporting our senior leadership team”.
In a statement, the company’s chair Jim Delegat said “after an external search, we are thrilled Murray has accepted the Chief Executive Officer position.
“Murray’s extensive knowledge of our business and the global wine industry, combined with his proven leadership, are critical to the company’s continued success at this important time.”
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By GlobalDataRiki Maden, currently group financial controller, will take the position of acting chief financial officer whilst Delegat looks for a replacement.
In April, the Barossa Valley Estate maker lowered its profit forecast for 2025, blaming the impact of US tariffs on sales.
In a New Zealand stock exchange filing at the time, the company said the US move to place a 10% tariff on all imports into the country had led to “significant uncertainty expressed by our US distributors regarding forward shipments for Q4 (April – June 2025)”.
“This uncertainty has led to a revised global case sales and profit guidance,” it said.
Delegat cut its projection on operating net profit after tax to $47-50m for the FY25 year, down from the previous forecast of $55-60m. Delegat’s financial year ends on 30 June.
It is also projecting global case sales of 3,182,000 for the year, a 5% fall from prior estimates and 12% lower than previous year’s sales.
