Moves at TWE see new CFO appointed

13 April, 2018 by Andy Young

Treasury Wine Estates (TWE) has announced that current Chief Financial Officer (CFO) Gunther Burghardt is moving to an operational role in the US business and that he will be replaced by the existing Deputy CFO, Matt Young.

Burghardt is moving to the role of Executive Vice President, Operations – Americas and Young will make the transition to CFO with the moves becoming effective 1 May 2018.

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In announcing the changes, TWE’s Chief Executive Officer, Michael Clarke, said: “Gunther has done a tremendous job in the role of CFO during a critical period for the business, and is now able to focus on using his deep commercial knowledge to provide critical oversight of operations in the Americas, a clear priority region for TWE.

“Matt has proven himself as an outstanding finance leader and is well positioned to seamlessly transition to the role of CFO – I will continue to work closely with both Gunther and Matt in their new roles.”

Burghardt’s new role will see him have accountability for leading all corporate and supply chain functions in the Americas, allowing Robert Foye (President Americas and Chief Operating Officer) to focus on sales, marketing, customer and distributor management, and ensuring the successful implementation of the recently announced route-to-market changes in the US.

In a statement to the ASX, TWE said: “Mr Burghardt has deep commercial knowledge of the business, having worked at TWE for more than eight years, holding various senior roles across the company, including his most recent position as CFO.”

The company added: “Mr Young has worked at TWE since 2014, and in his time with the Company has held several senior finance roles, including leading the global financial control team, and his most recent position as Deputy CFO.

“Prior to joining TWE, Mr Young was a Director at PricewaterhouseCoopers Australia, providing commercial support to complex, global organisations in the FMCG and Retail industries.”

Despite the position changes TWE confirmed that Young will continue to be based in Melbourne, while Burghardt will remain in California.