Treasury Wine Estates Limited announced today the appointment of Michael (Mike) Clarke as the Company's new Managing Director and Chief Executive Officer (CEO).

Mr Clarke joins TWE with over 20 years' senior leadership experience, and an outstanding track record at some of the world's iconic consumer goods companies. At Kraft Foods he was President of its European business and sat on Kraft's global operating board. At The Coca-Cola Company, where he spent over twelve years, Mr Clarke held a number of senior executive roles, including running the Northwest Europe & Nordics business unit. He also led Coca-Cola's South Pacific & Korea business unit for 5 years, during which time he was based in Sydney. Most recently Michael was CEO of the UK publicly listed Premier Foods Plc, based in London, where he led a significant turnaround of that company.

Speaking on the appointment of Mr Clarke, TWE Chairman, Paul Rayner, said:

"Mike's work on some of the world's leading brands is second to none, and he has previously lived and worked in Australia, America, Asia and Europe; all key regions where TWE operates. In addition, he has extensive agri-business and consumer drinks experience. In short, he has proven leadership ability and a track record of consistently driving improved business results. Accordingly, the Board believe he is the ideal individual to be TWE's next CEO.

"Our recruitment process generated significant interest internationally and we were privileged to have an excellent short list of candidates for this role. Mike was chosen because of his strong balance of strategic and operational skills, and his truly global perspective".

Upon his confirmation as TWE's new Managing Director and Chief Executive Officer, Michael Clarke said:

"I'm incredibly excited to have been given the opportunity to return to Australia and lead Treasury Wine Estates and its portfolio of truly iconic wine brands. I recognise that TWE, like most companies, has its challenges but I believe the opportunities are immense, and I look forward to working with my colleagues across the business to ensure that these are fully realised".

Mr Clarke will join TWE in March, subject to obtaining the necessary visa approvals, and will commence a handover with interim Chief Executive, Warwick Every-Burns. He will formally commence as CEO on March 31, 2014.

For more information, including Mr Clarke's biography, download the ASX Announcement (PDF, 226 KB)

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