Yesterday, Australian Vintage Limited announced the appointment of Margaret Zabel, a specialist in customer-centred business transformation, as a new Non Executive Director. Zabel will bring with her to the role more than 20 years of senior executive experience including current independent Non Executive Director positions for a further five businesses.
The role that Margaret Zabel has filled was vacated by Richard Davis, following his recently announced resignation. Australian Vintage’s Board restructuring will also see Naseema Sparks resign from the Board and from the People, Remuneration & Culture Committee.
An Australian Vintage spokesperson said, “we would also like to extend our thanks and best wishes to Naseema Sparks and John Davies as they complete their terms. They have made invaluable contributions.”
Margaret Zabel is currently working as an Independent Non-Executive Director for Fairtrade Australia & New Zealand, Select Harvests Limited, The Reject Shop, G8 Education Ltd, and Collective Wellness Group. She also has previous experience working in the drinks industry including 12 years at Lion across various Director roles, including as National Marketing Director.
“Margaret will add significant technical and leadership expertise,” said a spokesperson for Australian Vintage.
The new appointment comes at a time of significant restructuring for the company, which saw it perform a $19.9 million capital raising via the issuing of new shares in an effort to manage growing debt: “the Board is focused on navigating challenging industry conditions and capitalising on future opportunities to maximise shareholder value,” said Australian Vintage’s spokesperson yesterday.
The ASX-listed company is yet to announce a replacement CEO after Craig Garvin was fired from the position for conduct that “displayed a lack of judgement and was inconsistent with the values of the company” in May.
Currently, Non Executive Director Peter Perrin is Australian Vintage’s Acting CEO.
“On behalf of the entire Board and Executive Committee, I would like to thank Richard for his dedication and service to the company over more than 15 years,” said Perrin in relation to Davis’ recent resignation.
“He has made an invaluable contribution and will be missed.”
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