Australian Vintage appoint new CEO
Australian Vintage has appointed a new CEO to take the helm, following the stabilisation of the company in the wake of China’s tariff penalties and the glut of wine. The post Australian Vintage appoint new CEO appeared first on The Drinks Business.
Australian Vintage has appointed a new CEO to take the helm, following the stabilisation of the company in the wake of China’s tariff penalties and the glut of wine.
The company's chief commercial officer Tom Dusseldorp, who has been responsible for Australia Vintage's marketing and brand strategy in Australia and global markets, including the UK, North America and Asia in recent years, will take over from Craig Garvin, who was reappointed in October last year.
Chairman of the board James Williamson thanked Garvin for his "transformational leadership" which had seen the company develop from a family business to a major player in the Australian wine industry and return to the business last year "to set the company up for success".
"He returned last year to support the board with a plan to stabilise the company during a difficult 2024 and ensure we had a first-class leadership team in place for the longer term," he said. “We are now better positioned as a result of his leadership, including having a clear succession plan in place."
Williamson confirmed that while the company continued to navigate challenging market conditions, "our strategy remains the same. With the reset of the business that has occurred since mid-2024, we are now better positioned to move faster to restore shareholder value.”
Dusseldorp joined Australian Vintage in 2022 after working in senior leadership roles in Australia and the UK, including six years at Pernod Ricard where he worked in marketing and as a global senior ambassador for Chivas Prestige, Freedom Food Group, Australian childcare company, Camp Australia, and more recently as marketing and sales director at start-up All G Foods.
Garvin's departure follows a rebound of the company's fortunes which saw it post its strongest results in four years in January, having apparently recovered from problems caused by the glut of wine and China’s tariff penalties. In the first half of 2024, it reduced its losses to AU$8 million down from an AU$11 million deficit.
However, his time was not without controversy, as he was fired by the previous board in May 2024 on the grounds of "a lack of judgment", having been CEO of Australian Vintage since November 2019. Six months later, however he was rehired, returning to support Williamson and the board "in setting a clear direction to restore shareholder value".
In a statement today, however he said that it was "the right time to pass the baton to the next generation of leadership at Australian Vintage", adding that he was very pleased to see the internal succession plan come to life with Dusseldorp's appointment as chief executive.
Garvin's departure follows a rebound of the company's fortunes which saw it post its strongest results in four years in January, having apparently recovered from problems caused by the glut of wine and China’s tariff penalties. In the first half of 2024, it reduced its losses to AU$8 million down from an AU$11 million deficit.
However, his time was not without controversy, as he was fired by the previous board in May 2024 on the grounds of "a lack of judgment", having been CEO of Australian Vintage since November 2019. Six months later, however he was rehired, returning to support Williamson and the board "in setting a clear direction to restore shareholder value".
In a statement today, however he said that it was "the right time to pass the baton to the next generation of leadership at Australian Vintage", adding that he was very pleased to see the internal succession plan come to life with Dusseldorp's appointment as chief executive.
