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Treasury Wine Estates announces key new appointment

James Mickleboro
Friends celebrating with wine

The Treasury Wine Estates Ltd (ASX: TWE) share price could be on move today after the wine company announced a key new appointment.

What did Treasury Wine Estates announce?

This morning Treasury Wine Estates announced the appointment of Ben Dollard as President of its operations in the Americas.

According to the release, Mr Dollard will commence in his role on January 13 2020 and will be based in the company’s Oakland office in California.

He will replace Angus McPherson, who is unable to relocate to the US as planned due to unforeseen personal circumstances.

Mr McPherson has been unable to work in the Americas during the current quarter and it is planned that he will return to work in February in a revised role based in the company’s Melbourne office.

Both Mr Dollard and Mr McPherson will report directly to the company’s Chief Operating Officer, Tim Ford.

Is this a good appointment?

Treasury Wine Estates have appointed someone with vast experience in the key Americas market.

The release explains that Dollard has 20 years’ experience in the alcohol beverages industry in the Americas region.

He has worked in various senior executive leadership roles with rival Constellation Brands in the US and Canada.

He is currently the President of Craft & Specialty for Constellation Brands, but has previously held key roles such as Chief Growth Officer, Chief Marketing Officer and head of International Markets for Constellation Brands’ Wine and Spirits Division.

The company’s Chief Executive Officer, Michael Clarke, appeared to be very pleased with the appointment.

He said: “The Americas region is one of TWE’s key regions and I am delighted that Ben will bring his strong leadership skills, exceptional market knowledge and extensive wine, distributor and retail experience to lead the delivery of TWE’s plans for our Americas business as outlined at our recent Investor Day.”

“It is really unfortunate that Angus’ personal circumstances have kept him in Australia for quite some time. During this period, Tim Ford, Chief Operating Officer, and I have each been spending time in the Americas region covering the President Americas role. In the interim, Tim and I will continue to work in the US to ensure a smooth transition of the role to Mr Dollard,” he concluded.

The post Treasury Wine Estates announces key new appointment appeared first on Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019