By James Atkinson
Peter Barnes is retiring as chairman of the Yalumba board of directors after serving 12 years in the role.
Announced this morning, Barnes' retirement means Robert Hill Smith will become chair and step down as CEO.
He will be replaced in that role by Nick Waterman, who is currently chief operating officer.
Hill Smith paid tribute to Barnes as a tremendous mentor and chair who had "guided us through some lumpy seas".
"A keen yachtsman with a distinguished business background of Executive roles and Directorships at Lindeman's, Ansell, Metcash and News Corporation, he brought a unique knowledge and tenacity to the Yalumba boardroom," the company said.
"He will be sorely missed."
Yalumba said Hill Smith's appointment comes 30 years after his appointment as CEO.
"When appointed in 1985 he was one of the youngest appointments to that role for a major winemaker," the company said.
"Over the period of 30 years the Yalumba Wine Company has evolved into a highly regarded leading winemaker and also enjoys a formidable reputation for its engagement with the wine community and the quality of its wines and estates.
"His role as a Board Member of WFA and chair of AFFW continues his linkage with the wine fraternity at a political and promotional level."
As well as CEO, Nick Waterman has become a director of the company.
"Since joining Negociants Australia as general manager in 2002 from a career in software marketing and sales, he moved in 2009 to a role of executive director of strategy and trading and since mid-2014 has been chief operating officer," Yalumba said.