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Peter Dixon to leave Treasury and join Accolade
Barely a month after Robert Foye’s abrupt departure, Australian wine giant Treasury Wine Estates has seen another important personnel change, with the managing director of Asia and Global Travel Retail Peter Dixon, the key figure in driving the company’s China growth, also departing the company to join its rival Australian wine group, Accolade Wines.
The news was first announced by Dixon himself through his personal WeChat account, writing: “Many people have already heard that I will be leaving TWE shortly. I just want to personally thank all the amazing partners I’ve worked with over the past 10 years in Asia and specifically all the support from the China partners in the last five years.”
“Although I am going to a significantly smaller wine company with a lot less $ (Accolade Wines) from Australia, I am excited by the opportunities to be in a humble new business with amazing quality wines which I hope everyone has the opportunity to try shortly! Also a huge thanks to my amazing team at TWE for all they have done and I wish everyone good fortune for the future,” he continued.
Dixon first joined TWE in 2008 and worked his way up to become managing director for Asia, Middle East, Africa & Global Travel Retail.
His departure came shortly after Treasury Wine Estates announced strong growth in organic net sales in the 2019 interim report, and a month after Robert Foye, former COO of TWE, abruptly left his post following an unspecified breach of company policy.
In a statement sent to dbHK today, TWE confirmed the departure, and thanked Dixon’s contribution for TWE’s growth in Asia.
Tom King, who was the chief operating officer in Asia, has now been prompted to be managing director for North Asia, the company said, and will report directly to the newly appointed COO Tim Ford.
Asia remains the most lucrative market for TWE. In the 2019 interim results for the six months ended by the end of last year, the region reported a 31% EBITS growth to AU$153.1 million and an EBITS margin of 38.9%.
Accolade wines was purchased by investment group Carlyle in 2018 for about AU$1 billion, and owns popular brands such as Hardys, St Hallet, and Houghton.