9 May 2017 ASX ANNOUNCEMENT

Treasury Wine Estates leverages its global leadership talent pool to drive further value creation

Treasury Wine Estates Ltd (ASX: TWE) today announced meaningful changes to a number of roles and responsibilities within the Company's Executive Leadership Team to drive the next phase of growth for the Company.

Robert Foye, currently President & Managing Director Asia and Europe, will assume the role of President, North America & LATAM1, effective 1 January 2018.

In addition to his new role in the United States, Mr. Foye will also assume the role of Chief Operating Officer, effective immediately. Mr. Foye will now work closely with TWE Chief Executive Officer, Michael Clarke to oversee all major operating units across the global business.

Mr. Foye will take on responsibility for the North Americas region from current President - Americas Bob Spooner, whose two year assignment in the US will be successfully completed on 31 December 2017.

Bob Spooner will then return to Melbourne, Australia with TWE and delay his retirement to assume the role of General Manager, Global Strategic Initiatives, Systems and Processes, reporting directly to Mr. Clarke.

Over the coming months Mr. Foye and Mr. Spooner will work closely together on a transition plan before Mr. Foye formally commences his role, based in Napa, California in January 2018.

Tim Ford, TWE's current Director, Global Supply Chain & Industry Affairs will add oversight of Europe, South East Asia, Middle East & Africa to his responsibilities. With the successful optimisation and regionalisation of TWE's Supply function, Tim Ford will assume this role immediately. Peter Dixon will continue in the role of Managing Director, North Asia and Global Travel Retail with a dual report to Mr. Clarke and Mr. Foye. Angus McPherson will continue in his role as Managing Director, Australia and New Zealand.

Commenting on today's announcement, Mr. Clarke said: "I am delighted with today's announcement. These leadership changes demonstrate the flexibility and depth of TWE's global talent pool at the executive leadership level, and will further strengthen the Company's ability to deliver continued financial outperformance and value creation for shareholders."

Contacts / Further information: Media Investors

Carolyn Coon Jane Betts

Tel: +61 3 8533 3923 Tel: +61 3 8533 3493

Mob: +61 405 183 628 Mob: +61 437 965 620

1 Effective 1 July 2017, TWE's Latin American operations will be reported within the Company's Americas region

Treasury Wine Estates Limited published this content on 09 May 2017 and is solely responsible for the information contained herein.
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