By James Atkinson

Treasury Wine Estates (TWE) is conducting a worldwide search to find a permanent CEO, but this could take some time, chairman Paul Rayner told shareholders on Wednesday.

At the company’s AGM in Adelaide, Rayner said the TWE Board had engaged executive recruitment firm Spencer Stuart to fill the position.

“We are advised that the average time for such positions to be filled is nine months,” Rayner said. 

He said that CEO Warwick Every-Burns had indicated he was not a candidate for the permanent CEO role, “although he would do the job well”.

Every-Burns later told shareholders that whilst he will be an interim CEO, “I do not intend to be a part-time one!”. 

“So I am fully committed and completely engaged in the task ahead of us and very much look forward to serving as your CEO until such time as the right permanent CEO is found,” he said.

The Shout Team

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