Delegat’s founder Jim Delegat to step back from daily operations

Jim Delegat
Delegat's Group Limited 12-month price history (NZX.com)

Jim Delegat, founder of Delegat's Group [NZX: DGL], is stepping down from running the winemaker's daily operations to focus on the company's strategic direction.

From next month Delegat will take on the role executive chairman, where he will provide strategic direction and monitor performance, the company said in a statement. Graeme Lord will take over as managing director and will be responsible for developing growth plans, building a high performing organisation and executing business plans. Lord has been the general manager of global sales and market for the past six years. Current Delegat's chairman Robert Wilton will remain on as a director.

"Delegat's Group has achieved tenfold growth over the last decade and plans significant further growth over the next 10 years," it said. "The group's strategic goal is to build a leading global super-premium wine company. These appointments will provide the company with strong leadership to achieve this goal."

The winemaker pitches its Oyster Bay and Barossa Valley Estate wines as super-premium brands and plans to spend a further $132 million over the next three years to support sales growth, especially in the North American market.

Shares in the winemaker rose 0.9 percent to $3.50 and have declined 7.5 percent this year.

(BusinessDesk)

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