Treasury Wine Estates Shakes Up Top Management

Treasury Wine Estates CEO Michael Clarke.

Treasury Wine Estates’ Chief Executive Officer Michael Clarke announced a series of new executive appointments on Tuesday. Robert Foye was named chief operating officer, effective immediately and will work with Clarke to oversee major operating units across the global business.

Treasury Wine Estates Robert Foye.Foye, currently president and managing director Asia and Europe for TWE, will also assume the role of president, North America and Latin America, effective January 1, TWE said in a press release. But before he takes up those reins, shareholders should note TWE’s Latin American operations will be reported within the company’s Americas region as of July 1. The company, which has seen its shares rise 23.56 percent in the past 52 weeks, is set to report its annual results on August 17.

Foye, who will be based in Napa next year, will take on responsibility for the North Americas region from Bob Spooner, whose two-year assignment in the United States ends Dec. 31. Spooner is to return to Melbourne, Australia with TWE and delay his retirement to assume the role of general manager, global strategic initiatives, systems and processes, reporting directly to Clarke.

Tim Ford, TWE’s current director, global supply chain & industry affairs will add oversight of Europe, South East Asia, Middle East & Africa to his responsibilities. Peter Dixon will continue in the role of managing director, North Asia and global travel retail with a dual report to Clarke and Foye. Angus McPherson remains managing director, Australia and New Zealand, the press release said.

“I am delighted with today’s announcement,” Clarke said. “These leadership changes demonstrate the flexibility and depth of TWE’s global talent pool at the executive leadership level, and will further strengthen the Company’s ability to deliver continued financial outperformance and value creation for shareholders.”

Published on May 9, 2017
Topics: Movers & Shakers