TWE announces retirement of Chairman and appointment of Chairman elect

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.

Subject to an election vote, the change in leadership will come into effect at the conclusion of the Company’s Annual General Meeting on Monday 16 October.

The outgoing Chairman, Paul Rayner, has been a non-executive Director of TWE since its inception in 2011 and Chairman of the Board and Nominations Committee since September 2012. He said Mullen is the right candidate to take TWE into a continued growth phase.

“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’s 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,” he said.

Mullen is an experienced non-executive Director with senior executive and strategy experience. He joined the Board of TWE on 1 May 2023 and is currently an independent non-executive Chairman of Telstra Corporation Limited and Brambles Ltd and an independent non-executive Director of Canadian public company Brookfield Infrastructure Partners L.P.

Tim Ford, Managing Director and Chief Executive Officer of TWE, said: “Paul has made an outstanding contribution to TWE in his role as Chairman for more than a decade. 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 working with John as Chairman.”

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