Treasury Wine Estates (TWE) has announced the retirement of Paul Rayner from the Company’s Board as Chairman and independent non-executive Director, and the appointment of John Mullen as Chairman elect.

Effective from the conclusion of the Company’s Annual General Meeting on Monday 16 October, subject to his election, Mullen will take the position of Chairman.

Mullen, who joined the Board of TWE in May this year, brings extensive senior executive and strategy experience as a highly credentialled non-executive Director. Mullen is currently an independent non-executive Chairman of ASX-listed Telstra Corporation Limited and Brambles Ltd, and an independent non-executive Director of Canadian public company Brookfield Infrastructure Partners L.P.

Rayner, who has been a non-executive Director of TWE since its inception in May 2011, and Chairman of the Board and Nominations Committee since September 2012, commented on the appointment of the Chairman elect.

“John Mullen is an experienced Director with large Australian and international companies, and has the right skills to steer TWE to continued growth. He has my full support as Chairman elect and I look forward to handing over the role to him as part of the company’s broader succession strategy.”

“It has been a privilege to have contributed to TWE as a Director and Chairman over the past decade, and I believe it’s very well-placed to make the most of the opportunities in the wine category in the future.”

“Paul has made an outstanding contribution to TWE in his role as Chairman for more than a decade,” added Tim Ford, TWE Managing Director and Chief Executive Officer. “On behalf of the board, executive leadership team and all our team members globally, I thank Paul for his support and guidance, and wish him all the best. I look forward to welcoming John as Chairman.”

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