Australian Vintage has reappointed its recently-departed CEO, stating that Craig Garvin’s “track record … makes him the right person to lead the company”.
In May of this year, Garvin was released by the McGuigan brand owner with immediate effect after having been alleged to engage “in conduct that… displayed a lack of judgement”. The move, further details around which were not disclosed, brought to an end the executive’s four years as CEO of the publicly-listed business.
However, in a filing to the Australian Securities Exchange today, Australian Vintage confirmed Garvin’s return, starting on Monday (14 October).
“His appointment follows an external search that considered a number of exceptional candidates,” said company chair James Williamson. “After a thorough review of the circumstances and processes surrounding his departure from Australian Vintage in May, the board felt it was important for Craig to be involved in the search process.
““Craig’s track record at (Australian Vintage), his leadership style and deep understanding of our industry and our partners make him the right person to lead the company.”
The company also highlighted Garvin’s “ability to create an effective high-performing team, build a strong culture, and develop enduring relationships with customers and other stakeholders.”
In what has been a tumultuous few months for Australian Vintage, the company opened negotiations with Accolade Wines over a merger in February, only for its potential partner to withdraw in May, after which Accolade agreed to acquire most of Pernod Ricard’s wine assets instead.
A shift of strategy to improve cashflow, announced almost two months ago, was followed a few days later by the reporting of a 1% sales lift from the 12 months to the end of June.
The company was also the winner of the ‘sustainable wine producer of the year’ and ‘diversity/gender inclusion achievement’ titles in Global Drinks Intel‘s ESG Awards last week.
