John Armit steps down as Armit chairman

John Armit, founder and chairman of London fine wine merchant Armit, has stepped down as chairman of the company.

Armit set up the company in 1988, having previously been managing director of Corney & Barrow, where he pioneered the practice of buying direct from suppliers in Bordeaux, most notably with Château Pétrus.

Armit  – who will remain a shareholder – will formally resign as chairman before the end of the financial year, but has already withdrawn from day-to-day involvement with the business.

“I am very proud of the legacy I am leaving," Armit said. "Many of our best customers and suppliers have become great personal friends over the years. Of course standing down is tinged with regret, but I feel the time is right."

Chief executive Ian Ronald, who will take the helm at the company following Armit’s departure, said: “John is a man of great character. Driven and creative, he consistently surprises. His ethos of hard work and committed, honest relationships, fuelled by a passion for wine continues to be the bedrock of our business today.”

The company, which is based in Notting Hill but has an office in Hong Kong, has a yearly turnover of £40 million.

Armit is owned by Dutch distributor Baarsma Wine Group, with a management shareholding of 25%.

Specialising in Italian wines, Armit supplies many of the UK’s top hotels and restaurants, including The Connaught and the Dorchester.

Lucy Shaw, 14.02.2011