‘I’m going to keep the pressure on’: Former Treasury Wine exec plots investor meetings to sell turnaround plan
The heir apparent to the iconic winemaker suddenly left the company in 2019. Now Robert Foye is on the shareholder register and agitating for change.
Activist shareholder and one-time CEO-in-waiting Robert Foye will ratchet up his campaign to restore Treasury Wine Estates to its former glory, as he looks to meet with frustrated investors and convince a reluctant management team on his turnaround strategy.
Speaking from Houston, the wine industry veteran told Capital Brief he was talking to top investors and analysts about how to urgently turn around the company’s performance as he looks to emulate the company’s growth trajectory between 2014 and 2018 under his stewardship.
“If investors feel the stock price and the valuation is not going in the direction they want, and they want to have some more help then I’ll provide that,” Foye said adding that he was “absolutely” sticking around. “I’m going to keep the pressure on.”
The company’s largest shareholders include French billionaire Olivier Goudet who snapped up more than 7% of Treasury shares at the start of this year via his private wealth vehicle Platin SARL, according to his latest market disclosure. Long-standing shareholder Paradice Investment Management founded by investing veteran David Paradice has also been buying the dip to build its 5% stake.
