Ste. Michelle President and CEO retires after 34 years

The CEO and president of Washington’s Ste. Michelle Wine Estates, Ted Baseler, has announced his retirement after 34 years with the company.

Baseler began his career at Ste. Michelle in 1984 as director of marketing and was eventually appointed chief operating officer before being named president and CEO in 2001.

His retirement brings to an end a career with the producer that has spanned four decades, with 17 years as its president and CEO.

“Ste. Michelle has been my other home for more than three decades,” said Baseler. “During that time, I’ve had the pleasure of leading a team of dedicated, innovative colleagues. However, it’s time to live life away from the winery, which means transitioning the company to new leadership.”

During his time as its president and CEO, the company increased its operating income from $21 million in 2000 to $146m in 2017, with a compounded annual growth rate of 12.1%.

Over the same period, volume sales have grown from 2.8m cases to 8.5m cases over that same period, with a compounded annual growth rate of 6.8%.

He also orchestrated Ste. Michelle’s acquisition of Stag’s Leap Wine Cellars with the Antinori family in 2007.

Baseler will leave the company on 1 October 2018, with Jim Mortensen set to succeed him.

Mortensen brings 25 years experience in the consumer packaged goods businesses to Ste. Michelle, having been held senior roles with PMI (Project Management Institute), the Miller Brewing Company and US cigarette firm Philip Morris. Most recently he held the position of senior vice president of human resources at PMI.