Australian Vintage reappoints ousted Craig Garvin as CEO
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The news: Wine and drinks company Australian Vintage has again appointed former boss Craig Garvin as its chief executive, having abruptly terminated his previous contract in May.
The context: Garvin was CEO of Australian Vintage from November 2019 to May 2024 after serving as CEO of dairy manufacturer Parmalat for nearly a decade.
Australian Vintage chairman and acting CEO James Williamson said that "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".
In May, Australian Vintage's board announced the immediate termination Gavin's employment for "engaging in conduct that, in its view, displayed a lack of judgment and was inconsistent with the values of the company and the high standards expected of its chief executive officer".
"While we are disappointed by the circumstances leading to his departure, we believe this is in the best interests of the company and shareholders," the company said at the time.
Garvin will rejoin Australian Vintage as CEO on 14 October.
What they said: "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," said Williamson.
"He is a respected and well-liked leader who successfully led the change at [Australian Vintage] in a challenging environment," he said. "His appointment, after a difficult period for the company, highlights the board's laser-like focus on restoring shareholder value."
The source: ASX announcement
