Australian Vintage Limited (AVG) has sacked CEO Craig Garvin over what it calls “a lack of judgement”.
Garvin has told The Australian that he is seeking legal advice.
Current AVG non-executive director Peter Perrin has been appointed acting CEO.
AVG says in a statement: “After careful consideration and discussion between Mr Garvin and the Board, the Board has terminated Mr Garvin’s employment for engaging in conduct that, in its view, displayed a lack of judgement and was inconsistent with the values of the company and the high standards expected of its chief executive officer.”
Chair Richard Davis says, “The Board thanks Craig for his service to the company over the past four years, and the contributions he has made to the business over that time.
“These include steering the company through the challenges of the Covid-19 pandemic and the development and execution of the company’s five-year strategic plan, which transformed AVG into a consumer-led branded business with a commitment to innovation.
“While we are disappointed by the circumstances leading to his departure, we believe this decision is in the best interests of the company and its stakeholders.
“The Board remains committed to upholding the highest standards of conduct and accountability for all employees, including senior leadership.”
AVG says the departure of Mr Garvin should have no impact on the preliminary discussions between AVG and Accolade Wines on a potential transaction.
“These discussions are continuing, although there remains no certainty that any transaction will eventuate,” the statement says.
Mr Perrin brings a wealth of high-level wine industry experience as a past manager and director of a number of large listed, private and boutique wine companies in Australia, the United States and New Zealand over a 40-year wine career that focused on sales and marketing both in Australia and overseas.
He is a trustee and honorary life member of the Wolf Blass Foundation.
Photo: The Australian.
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