Wines get shake-up
Treasury Wines CEO David Dearie. Photo: Arsineh Houspian
TREASURY Wine Estates, the spun-off wine arm of Foster's, has pushed ahead with its management restructure to better align supply, sales and export of its best-known wine brands and serve its global customers.
As part of the restructure, announced in August when it unveiled its full-year results, Treasury has made three key appointments to its executive leadership team, all to report directly to chief executive David Dearie.
Stephen Brauer, who has been in charge of Treasury's North American wine operations, has been appointed managing director of Beringer, the company's flagship Napa Valley wine label. Simon Martin is the new managing director of Wolf Blass, and Stuart McNab is chief supply officer.
Mr Dearie said in August that Treasury would appoint five global brand leaders, each responsible for at least one of Treasury's ''foundation brands'' - Beringer, Penfolds, Wolf Blass, Lindeman's and Rosemount.
Foster's and Treasury will hold their first annual meetings as independent companies on Tuesday. Foster's AGM is expected to be its last, with the board having accepted a $12 billion takeover offer from SABMiller.