Treasury Wine Estates (TWE) has confirmed the departure of Managing Director Asia, Middle East, Africa & Global Travel Retail Peter Dixon, and announced several related senior moves. Dixon has left for a role at Treasury Wine Estates’ rival Accolade Wines.
Tom King (pictured), well known in duty free for his time as General Manager Global Travel Retail, has been named Managing Director – North Asia, having been Chief Operating Officer – Asia.
He takes on oversight of TWE’s business in North Asian markets, reporting to Chief Operating Officer Tim Ford.
As we reported in December, Simon Carter was named General Manager, Global Travel, reporting to Managing Director, Southeast Asia, Middle East, Africa, Hong Kong, Taiwan, Global Customers and Global Travel Retail Kinyi Choo.
Choo will now report to Managing Director – Australia, New Zealand & Europe Angus McPherson. McPherson adds Southeast Asia, Middle East and Africa to his existing responsibilities across the ANZ and Europe markets.
TWE said in a statement: “The fundamentals of the TWE business in Asia remain unchanged, and the company remains committed to its global and regional business growth plans with its partners.”
TWE last week reported its half-year results, with Net Sales Revenue (NSR) increasing by 16.4% on a reported currency basis and 12.7% on a constant currency basis to A$1.5 billion (US$1 billion). The company said it benefited from increases in volume, as well as portfolio premiumisation and price realisation on luxury and masstige wine.
It noted strong earnings growth across all regions, driven by its premiumisation strategy and increased allocation of luxury wine in key markets.
