Former consumer goods exec takes stake in Treasury Wine Estates

Former JAB Holding CEO Olivier Goudet has go a number shareholder of Treasury Wine Estates (TWE).

According to the filing, Goudet, alongside his concern limb Platin, has taken conscionable implicit a 5% involvement successful the Australian vino major.

Between 2012 and 2023, Goudet was managing spouse and CEO of concern radical JAB Holding Company, the genitor of Keurig Dr Pepper, JDE Peet's and Pret A Manger.

Up until past year, helium was besides president astatine JDE Peet's. Goudet remains connected the committee of the java radical arsenic a non-executive director.

Shares successful the Penfolds vino shaper changeable up conscionable implicit 7% pursuing its announcement connected the ASX of Goudet's determination connected 23 December.

At the clip of penning contiguous (5 January), shares successful the concern person inactive dropped 7.38% successful the past month.

Earlier successful December, TWE CEO Sam Fischer announced a “transformation programme” that volition see a reappraisal of products and outgo cuts astatine the Melbourne-headquartered group.

The caller programme, called TWE Ascent, volition look astatine 3 areas: an “evolution” of its portfolio; changes to the company’s “operating model” and the “optimisation” of costs.

TWE is looking to people A$100m ($66.9m) a twelvemonth successful outgo savings implicit the adjacent 3 fiscal years.

In the group's update, Fischer, who became CEO successful October, said the concern was seeing "category weakness successful the US and China, 2 of our cardinal maturation markets, which volition interaction our concern show successful the near-term".

TWE had highlighted problems successful some markets respective times successful 2025.

At the opening of December, the 19 Crimes shaper forecast an impairment connected its US assets, amounting to astatine slightest A$687.4m.

In October, the radical besides withdrew its fiscal 2026 net guidance owed to an “uncertain outlook” for its Penfolds marque successful China and Treasury Americas businesses.

Speaking astir the translation plan, Fischer said successful December: “I’m energised by the accidental to accelerate a translation docket to reshape TWE for its adjacent era, leveraging these beardown foundations. We person commenced enactment to place opportunities to simplify the mode we operate, to fortify our execution absorption close crossed the concern and to realise important outgo benefits.”

TWE past said it was already bringing down inventories held by customers successful the US and China amid what the institution said was “moderated depletion maturation expectations”.

Alongside the update, the radical besides revealed it had cancelled plans for a A$200m buy-back of shares successful its existent fiscal year.

"Former user goods exec takes involvement successful Treasury Wine Estates" was primitively created and published by Just Drinks, a GlobalData owned brand.