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Treasury Wine Estates Names New COO, As Foye Departs

January 22, 2019

Treasury Wine Estates has appointed Tim Ford as COO, following the surprise departure of former COO Robert Foye. Ford, who was previously deputy COO, will now take responsibility for Treasury’s operations across its global business, reporting to company CEO Michael Clarke.

Treasury said Foye left the company “due to a breach of TWE’s internal policies unrelated to the company’s trading performance,” but offered no further details. In addition to his role as COO, Foye previously served as president of TWE’s Americas unit, but relinquished that post to company veteran Victoria Snyder last summer.

Meanwhile, Treasury says it’s on track for strong double-digit profit gains in its fiscal year ending in June with its first-half EBITS falling in the range of A$335 million to A$340 million ($242m-$245m). The Australia-based wine giant added that it’s expecting approximately 25% EBITS growth for its full fiscal year.—Daniel Marsteller

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