Australian Vintage Brings Back Craig Garvin

The CEO who was dismissed in May is now set to resume leadership responsibilities.

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Craig Garvin is once again CEO of Australian Vintage. (Picture: 2008 Getty Images/Mike Flokis)
Craig Garvin is once again CEO of Australian Vintage. (Picture: 2008 Getty Images/Mike Flokis)

Australian Vintage Limited (AVG), an Australian corporation, announced to its investors that Craig Garvin will return as CEO starting October 14, 2024. Garvin had previously left the company in May after the board cited a "lack of judgment" on his part. Interim CEO Peter Perrin took over but stepped down in August due to health reasons, with James Williamson assuming the interim role.

In a surprising reversal, Garvin is now returning to lead the company. Despite initially seeking an external CEO and considering "a number of exceptional candidates," according to Australian Vintage, they ultimately brought back a familiar face. " After a thorough review of the circumstances and processes surrounding his departure from Australian Vintage in May, the Board felt it was important for Craig to be involved in the search process," said Chairman and Interim CEO James Williamson. He added, "Craig’s track record at AVG, his leadership style and deep understanding of our industry and our partners make him the right person to lead the company. He is a respected and well-liked leader who successfully led the change at AVG in a challenging environment."

The appointment highlights the board's focus on "restoring company value." Australian Vintage reported revenue growth for the 2024 fiscal year but a loss in statutory NPAT (net profit after tax).
 

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