Treasury Wine Estates Limited (ASX: TWE) today announced the appointment of Gunther Burghardt as TWE’s new Chief Financial Officer (CFO) effective today. He replaces outgoing CFO Noel Meehan who has advised that with the relocation of the CFO role to the United States he will not continue as CFO and will leave the Company on 14 March 2017.
Based at TWE’s US office in the Napa Valley, Mr Burghardt will lead the Company’s Global Finance & IT functions and report directly to the Chief Executive Officer, Michael Clarke. Mr Burghardt has worked at TWE, including previously the Foster’s Group, for more than seven years in various senior finance roles including CFO of every region of TWE the global marketing function and supply chain. His most recent role is CFO, Americas. Mr Burghardt has had a global career spanning over two decades in the consumer goods sector, previously at Mondelez International, (formerly Kraft Foods), Reckitt Benckiser and Procter & Gamble.
Matt Young, has been appointed to the role of Deputy CFO reporting to Mr Burghardt. Mr Young will continue to be based at Southbank, Melbourne. Mr Young has been with TWE since 2014 and has most recently led TWE’s global financial control team. Prior to joining TWE, he was a Director at PricewaterhouseCoopers Australia providing commercial support to complex, global organisations in the FMCG and Retail industries.
TWE CEO, Michael Clarke, commented: ‘I am delighted to be working with a CFO of Gunther Burghardt’s calibre and his appointment as CFO is a very exciting change for our Company. With outstanding technical capabilities and a deep commercial understanding of our business across every region, Gunther has already demonstrated his ability to lead and collaboratively drive TWE into its growth phase’.
Mr Burghardt’s appointment has the full support of the TWE Board. TWE Chairman, Paul Rayner, said that he was pleased that the Company’s succession planning processes had enabled the CEO to choose a candidate from within TWE who has the ability and leadership skills to take on the role of CFO of the Group.
TWE’s Board and Management team would like to thank Mr Meehan for his contributions to TWE and wish him well with his future endeavours.