Australian Vintage Ltd (AVL) has announced Tom Dusseldorp will take on the role of CEO after Craig Garvin stepped down.
Dusseldorp joined the ASX-listed company in 2023 as its Chief Marketing Officer, after more than 15 years in the drinks and food industry working for Pernod Ricard, Freedom Foods, Camp Australia and All G Foods.
He has most recently been responsible for the company’s marketing and brand strategy in Australia and across the globe and will take up the CEO role from 30 April.
“On the back of Craig’s leadership over recent months, we now have the opportunity to double down on our work to deliver sustainable positive cash flow through targeted investments in innovation and brands for accelerated revenue growth,” Dusseldorp said.
“Our objective is to manage capital efficiently and improve our ability to invest, manage risk, and respond to opportunities as they arise through cost discipline.”
AVL Chair, James Williamson, paid tribute to the outgoing CEO and thanked Garvin for his transformational leadership.
“This started with Craig taking the company from a family business to a major player in the Australian wine industry,” Williamson said.
“He returned last year to support the board with a plan to stabilise the company during a difficult 2024 and ensure we had a first-class leadership team in place for the longer term.
“We are now better positioned as a result of his leadership, including having a clear succession plan in place.”
Williamson said AVL will also continue to navigate challenging market conditions.
“Our strategy remains the same,” he said.
“With the reset of the business that has occurred since mid-2024, we are now better positioned to move faster to restore shareholder value.”
Garvin reflected on his time as leader and said it is the right time to pass the baton to the next generation.
“I came back to the company to support James and the board in setting a clear direction to restore shareholder value,” Garvin said.
“I am very pleased to see our internal succession plan come to life with Tom Dusseldorp appointed as chief executive.”