Treasury Wines announces CFO transition

The news: Treasury Wine Estates has appointed a new chief financial officer, with Stuart Boxer to take the reins from Matt Young from 1 November.

The numbers: Young has been with Penfolds owner TWE since 2014, and will remain on deck to assist with Boxer's transition until 12 January 2024. Boxer has been chief strategy and corporate development officer at TWE since joining the company in 2020.

The context: Treasury has announced a number of strategic shifts in recent months. In July, the Penfolds owner said it would be mothballing its bulk Karadoc winery in Victoria and focusing on its premium offerings, as low-cost wine sales struggled in an oversaturated market.