Treasury Wine Estates CEO gone

[tpang]

News just this morning, CEO of Treasury Wine Estates David Dearie has quit the company.

Previously, we had heard of the company's intention to pour wine down the drain, and a $160mil write-down of its US division.
Certainly, what goes on at TWS will eventually trickle down and impact on grape growers. We might even start seeing the market flooded with heavily discounted bottles coming back from USA warehouses.

http://www.theaustralian.com.au/busines ... 6724950038

http://www.theage.com.au/business/retai ... 2u95p.html


Does the consumer care about what's going on at TWS? Would it matter if you had a choice between 2 bottles, and you knew that one was a TWS owned label?

[camw]

We might even start seeing the market flooded with heavily discounted bottles coming back from USA warehouses.

I doubt it since the majority of the stock was from their US properties (Beringer etc).

Does the consumer care about what's going on at TWS? Would it matter if you had a choice between 2 bottles, and you knew that one was a TWS owned label?

The general consumer? I seriously doubt it would matter to them in the slightest. Does it matter to me? Not really - I've always received great service from the people on the ground at TWE owned properties, from sorting me out with various corked bottles, to going above and beyond to researching historical information for me so I could put a booklet together for vertical tasting with a wine group.

[marsalla]

Bigger question is who would take the job, long term (20+years) of very poor performance for the company. I am surprised anyone would touch the shares, let alone the job. Best option is break down the business into a few portfolios, and and get the list more manageable. They have tried again and again to grow by acquisition, only to lose market share, time to shrink the company/

[Brucer]

The CEO needed to go. Hard to believe he/they left wine unsold so long it had to be tipped down the drain. Hopeless. They could have sold it at cost and got rid of it.
But no, they just buried their heads in the sand. Really bad. But its not his money, its the shareholders. The board needs a damn good shakeup too.