Treasury Wine Estates appoints CEO from Lion, facing profit warning.

From Yahoo Finance: 2025-05-15 09:12:00

Australian wine major Treasury Wine Estates (TWE) appoints Sam Fischer, current Lion CEO, as new CEO and managing director, succeeding Tim Ford. Fischer, with 30+ years experience in alcoholic beverages, consumer goods, and luxury brands, will join on 27 October pending regulatory approvals. TWE recently issued a profit warning, expecting A$780m EBITS for fiscal 2025.

TWE’s first half saw a 29.9% EBITS decline in the Treasury Premium Brands business due to soft consumer demand. However, net sales revenue increased by 20.2% to A$1.5bn with growth in the luxury portfolio, including Penfolds. TWE also decided not to sell its “commercial” wine brands after failing to secure a satisfactory offer.

In December, TWE acquired a 75% stake in Ningxia Stone & Moon Winery for 130m yuan. Full-year fiscal 2024 results showed a 13.1% increase in net sales revenue to A$2.73bn, but a 61.1% drop in net profit after tax. Despite the challenges, TWE remains committed to investing in luxury vineyard and production assets to support its growth. 1. The stock market saw record highs today, with the S&P 500 reaching a new peak of 4,100 points. This surge was fueled by strong quarterly earnings reports from major tech companies like Apple and Microsoft.

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Read more at Yahoo Finance: Treasury Wine Estates snaps up new CEO from Lion