Accolade Wines chief executive leaves business
Troy Christensen, the chief executive of Accolade Wines, has left the business with immediate effect.
The UK’s largest wine company gave no reason for his departure, but said it was “by mutual agreement”.
Private equity owners Champ moved to assure customers that Christensen’s departure would not mark a change in strategy and that the firm would continue to focus on increasing profitability in the UK.
John Haddock, managing director at Champ, said: “Troy has performed a very valuable role in the first phase of the Champ III Fund’s ownership and we wish him well in his future endeavours.
“He will continue to be engaged to assist the Board with the transition to a new chief executive.
“Troy’s departure does not signal any fundamental change in strategy.
“We will be looking for a new leader to drive the execution of the Board’s strategies, focusing on customers, increased profitability in established markets and growth in new markets.”
Accolade Wines is one of the world’s leading wine companies, selling wine in 80 countries, but the UK is its largest export market.
Christensen became president of Constellation Brands in 2007, and when Champ took over the business and renamed it Accolade in January 2011, it retained him as chief executive.
Korn/Ferry International has been appointed to conduct a global search for his replacement.