Craig Garvin has resigned as CEO of Australian Vintage Limited, ending a rollercoaster ride with the company.
He rejoined Australian Vintage as CEO in October last year after being sacked five months earlier.
Now he has stepped down, with Tom Dusseldorp leading the company.
The Board said Garvin had “repositioned and stabilised” the company following a difficult 2024.
“The Board appreciates the transformational leadership that Craig has brought to Australian Vintage over many years,” chairman James Williamson said.
“This started with Craig taking the company from a family business to a major player in the Australian wine industry.
“He returned last year to support the Board with a plan to stabilise the company during a difficult 2024 and ensure we had a first-class leadership team in place for the longer term.
“We are now better positioned as a result of his leadership, including having a clear succession plan in place.
“On behalf of everyone at Australian Vintage, we thank Craig for everything he’s done, including returning to the business to set the company up for success.
“We wish him well for the future.”
Mr Garvin said, “This is the right time to pass the baton to the next generation of leadership at Australian Vintage.
“I came back to the company to support James and the Board in setting a clear direction to restore shareholder value.
“I am very pleased to see our internal succession plan come to life with Tom Dusseldorp appointed as chief executive.”
Mr Williamson said, “While we continue to navigate challenging market conditions, our strategy remains the same.
“With the reset of the business that has occurred since mid-2024, we are now better positioned to move faster to restore shareholder value.
“We are fortunate to have an exceptional leadership team at Australian Vintage, and it’s very pleasing to have Tom step up as our chief executive.
“Tom joined us in 2022 with strong leadership credentials.
“His commercial expertise and experience within the business mean he is ideally placed to succeed Craig and provide continuity in our strategy focused on cashflow and targeted growth.”
Mr Dusseldorp said: “On the back of Craig’s leadership over recent months, we now have the opportunity to double down on our work to deliver sustainable positive cashflow through targeted investments in innovation and brands for accelerated revenue growth.
“Our objective is to manage capital efficiently and improve our ability to invest, manage risk, and respond to opportunities as they arise through cost discipline.”
Mr Dusseldorp joined Australian Vintage in 2022 and brings more than 15 years of experience across senior leadership roles in Australia and the UK.
This includes over a decade with Pernod Ricard; Noumi, where he created powerband MilkLab; Australian childcare company, Camp Australia; and successful start-up All G Foods.