The New Zealand Wine Company

Board Changes at The New Zealand Wine Company

The Chairman of The New Zealand Wine Company Ltd., Mark Peters, has announced that he will retire from the Board after the 2007 Annual General Meeting on 25 September 2007.  Mr Peters said “After nearly 18 years as a Director and 15 as Chairman I feel it is time to step down from a role I have very much enjoyed. Now is the right time for new blood when the company is being well managed, is in a sound operational and financial position, has excellent brand value and awareness and its sales volume is growing in all markets.”
 
The retirement of Mr Peters will create a vacancy on the Board to be filled by election at the Annual General Meeting. Two other Board changes have been announced. Jane Hunter OBE retired as from the end of the current financial year (30th June) due to pressure of other commitments. Mr Peters said “We have really appreciated the value of nearly 4 years Jane has given us in a governance role, with her expertise and standing within the Wine Industry.” He announced that as from 1st July 2007 the Board have appointed Blenheim Solicitor and grape grower, Stephen Riley as a replacement for Jane.
 
Mr Peters also advised “The Board has resolved to revert to its former 6 Director Board as from 1st July, and we have appointed Auckland Chartered Accountant David Appleby as a new Director. The skills and expertise of both Stephen and David will add greatly to the existing Board as it works with Management to add shareholder value.”
 
Both Mr Riley and Mr Appleby will present themselves for election confirmation at the AGM, at which time the election for a Director to replace Mr Peters will also be held. Details of the nomination process will be given in due course.
 
Authorised for public release.
 
For further information please contact:
Mark Peters
Chairman, The New Zealand Wine Company Limited
PO Box 67, Renwick, Marlborough
Tel: +64 3 578 7159
Fax: +64 3 578 8968