Treasury Wine Estates is set to change its CFO with incumbent Matt Young stepping down after five and a half years.
The move, lined up for the start of October, will see chief strategy & corporate development officer Stuart Boxer take on the financial lead. Boxer has been with Treasury since mid-2020 and will assume the position of chief financial & strategy officer.
The group will also up the responsibilities of Penfolds CFO Justin Pipito to deputy CFO level.
Young will leave Treasury in January, bringing an end to a decade with the company that included a year as group finance & risk director and group financial controller, also for around 12 months. Details of his next career move were not disclosed.
In results for the 12 months to the end of June, announced last month, Treasury saw year-on-year sales fall by almost 5% with the company positioning fiscal 2023 as a year in which its strategic pivot towards higher-end wine remains a going concern.
