The current head of Treasury Wine Estates has lined up his departure later this year after five years at the helm.
Tim Ford (above), who joined the Penfolds brand owner in 2011, will step away as CEO & MD of the group at the end of September. Replacing him will be Sam Fischer, the current CEO of Kirin Group’s Lion division and former regional president with Diageo.
Fischer will assume his new position on 27 October.
Ford started with Treasury as global logistics director before rising through the ranks to become COO at the start of 2019. Following the retirement of Michael Clarke, he moved up to the CEO role in July 2020. During his tenure, Treasury acquired Frank Family Vineyards in late 2021 and Daou Vineyards – both in California – towards the end of 2023. The company also had to navigate the implementation – and removal just over three years later – of a 220% tariff by China related to alleged wine dumping by Australian producers.
The move, which effectively removed Australian wine from the Chinese market, hit Treasury hard sales-wise but prompted a sharp rebound in its fiscal 2024, to the end of June.
“Tim has led TWE during a period of significant change and will be known for his courage in setting bold ambitions, leading to the delivery of significantly strengthened financial performance,” said company chair John Mullen. “TWE is a significantly stronger and more focused business as a result of Tim’s vision and leadership, and the company will benefit from his legacy for many years to come.”
Fischer (above), meanwhile, worked for Diageo for 17 years, initially as MD of South-East Asia from 2005 to 2013. Following a year as MD for greater China, he became president of Asia Pacific & global travel in mid-2014 before leaving to take the reins at Lion in July 2022.
Lion is owned by Japan’s Kirin Group and oversees operations across Australia, New Zealand and the US, with brands including XXXX and Steinlager on the beer side and Four Pillars gin in spirits. In wine, Lion owns around 1,000 acres of vineyards in California and Oregon, which source the MacRostie, Argyle and Markham brands, and controls the Martinborough, Mt Difficulty and Wither Hills marks in New Zealand.
“Following an extensive global search for Tim’s successor, I’m thrilled to welcome Sam to TWE,” Mullen added. “With over 30 years of global leadership experience, Sam brings proven CEO credentials, exceptional strategic acumen and deep expertise in alcohol beverages, consumer goods and luxury brand building, accompanied by a strong track record of driving business growth.”
When contacted by Global Drinks Intel, a company spokesperson did not provide details of Ford’s plans post-Treasury. Nobody was immediately available at Lion to outline who will replace Fischer or when he will leave the company.
