Treasury Wine Estates shares drop after CFO appointment
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More news: Treasury Wine Estates shares fell in morning trade after the winemaker appointed former Orora CEO Nigel Garrard to its board as an independent non-executive director.
Treasury Wine shares were down 2.3% to $9.40 at 11:05am AEDT, extending losses of around 25% over the last 12 months.
Treasury Wine Estates appoints former Orora CEO as director
The news: Australia’s top winemaker Treasury Wine Estates has appointed former Orora CEO Nigel Garrard to its board as an independent non-executive director.
The numbers: The appointment will be effective from 1 May and is conditional on the completion of regulatory checks and approvals.
The context: Treasury Wine chairman John Mullen said Garrard’s extensive experience in the food and beverage and packaging sectors will further strengthen the broad range of competencies on TWE’s board.
Garrard led the demerger of Orora from Amcor and its subsequent listing on the ASX in 2013, and has previously held senior roles at Coca Cola Amatil, SPC Ardmona and Chiquita Brands International.
The source: ASX
