Yalumba managing director Nick Waterman will retire in September.
Executive director, Commercial, Karl Martin will take over.
Waterman has led the business as CEO since March 2015, and during this time has “operationally contemporised” Yalumba in preparation for future generations, says chairman Robert Hill-Smith.
“Nick has approached the CEO task with incredible stamina, loyalty, resilience and intelligence and we are in many ways a transformed wine company that now, thanks to him, is set to drive our aspirations with confidence,” Mr Hill-Smith says.
“Needless to say, we shall miss his leadership, presence and character whilst recognising so much more work is set to go under our bridge before that time comes.”
Waterman joined the company’s distribution business, Negociants Australia, in 2003 and quickly worked his way to executive director – Strategy and Trading, and then chief operating officer in 2014.
Martin joined the business in 1994, serving in a number of finance, support and executive roles in four different countries before taking on his current role in 2010.
“We have every confidence that Karl will continue Nick’s exceptional leadership, taking us further along our journey, managing our unique culture and growing our wine business in line with our family’s vision,” Mr Hill-Smith says.