Treasury Wine Estates, the Australian company best known as the owner of Penfolds, has appointed Mark Weldon to its board of directors. The appointment is effective from October 1. Treasury Wine Estates is a global wine company that owns a portfolio of brands. They cultivate and sell wine around the world.
Weldon brings a wealth of experience to the role. He is the owner of Terra Sancta winery in Bannockburn, New Zealand, and previously served as chief executive of New Zealand’s Exchange (NZX). Earlier in his career, Weldon worked as a management consultant for McKinsey and as a mergers and acquisitions lawyer in New York.
Treasury Wine chairman John Mullen highlighted Weldon’s deep understanding of both the wine industry and capital markets as key attributes. Weldon was chief executive of NZX from 2002 to 2012.
The appointment comes as Treasury Wine Estates prepares for a change in leadership. Current chief executive Tim Ford is set to depart later this month after five years in the role. He will be succeeded by former Lion boss Sam Fischer.
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