Australian Vintage Limited (AVL) has announced the departure of CEO Craig Garvin, effective immediately, for “engaging in conduct that, in its view, displayed a lack of judgement and was inconsistent with the values of the company”.
AVL said the decision had been made after careful consideration and discussion between Garvin and the Board and had come to the conclusion that Garvin’s conduct was not in line with the “high standards expected of [the] Chief Executive Officer”.
AVL said that one of its current non-executive directors, Peter Perrin, has been appointed Acting Chief Executive Officer, with an extensive global search now underway to appoint a permanent CEO.
Richard Davis, Chairman of Australian Vintage, said: “The Board thanks Craig for his service to the company over the past four years, and the contributions he has made to the business over that time.
“These include steering the company through the challenges of the COVID-19 pandemic and the development and execution of the company’s five-year strategic plan, which transformed AVG into a consumer-led branded business with a commitment to innovation.
“While we are disappointed by the circumstances leading to his departure, we believe this decision is in the best interests of the company and its stakeholders. The Board remains committed to upholding the highest standards of conduct and accountability for all employees, including senior leadership.”
Perrin brings a wealth of high-level wine industry experience as a past manager and director of several large listed, private and boutique wine companies in Australia, the United States and New Zealand over a 40-year wine career that focused on sales and marketing both in Australia and overseas.
Perrin is a trustee and honorary life member of the Wolf Blass Foundation, and he is Chairman of the AVG Board’s Risk and Sustainability Committee and member of the People, Remuneration and Culture Committee.
AVL said Garvin departure should have no impact on the preliminary discussions with Accolade Wines, and that these discussions are continuing, although there remains no certainty that any transaction will eventuate.