AUS: Accolade Wines CEO exits

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Accolade Wines has announced that CEO Troy Christensen is leaving the company today (30 November) by "mutual agreement". 


Christensen has been in the role for nearly two years, since Accolade was established. The company was formed in early-2011 after private equity firm CHAMP acquired Constellation Brands' UK and Australian wine operations for AUD290m (US$290m). 

In a statement today, the company said: "The board of Accolade Wines advises that by mutual agreement Troy Christensen will be leaving his position as chief executive officer on 30 November 2012." When contacted by just-drinks, a spokesperson for CHAMP declined to comment further on the reasons behind the move.

Christensen was already CFO of Constellation Europe when, in 2007, he was promoted to the CEO position at the division. Then, in June 2009, he also assumed responsibilities for Constellation Wines Australia and New Zealand. He subsequently stayed on with the newly-named Accolade, after CHAMP's purchase.

John Haddock, CHAMP's MD added: “Troy’s departure does not signal any fundamental change in strategy. We will be looking for a new leader to drive the execution of the board’s strategies, focusing on customers, increased profitability in established markets and growth in new markets.”

He added that Christensen has "performed a very valuable role in the first phase of the CHAMP III Fund’s ownership and we wish him well in his future endeavours".

Christensen, will assist the board with the transition to a new CEO, Haddock said. 

Los Angeles-headquartered executive recruitment firm Korn/Ferry International has been appointed to conduct a global search for the new CEO, Accolade said.

The statement was released at 0920 GMT today. By 1005 GMT, Christensen's details had already been removed from Accolade Wines' website.

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