Robert Foye Steps Down as CEO of Accolade Wines After Notable Tenure

Robert Foye, the American wine executive who led Accolade Wines, Australia's second-largest wine producer, has officially announced his departure from the company.

After a nine-year tenure split between Treasury Wine Estates (TWE) and Accolade, Foye will be returning to Texas, leaving behind a significant impact on both companies, particularly in their expansions into the Chinese market.

A Remarkable Career in Wine and Beverages

Before entering the wine industry, Foye had a 22-year career at Coca-Cola, where he honed his global business acumen. In 2014, he transitioned into the wine sector with Treasury Wine Estates (TWE), where he quickly ascended to senior leadership roles, eventually becoming the President of the Asia, Europe, Africa, and Latin America regions, and later the Chief Operating Officer (COO).

During his tenure at TWE, Foye played a pivotal role in expanding the company's presence in China. One of his major achievements was spearheading the growth of the iconic Penfolds brand in the Chinese market, a crucial accomplishment as the nation’s demand for luxury wines surged. Leveraging his connections in the American basketball scene, Foye also brokered an innovative partnership between TWE’s Wolf Blass label and NBA China, marking the first-ever wine partnership in that realm. Wolf Blass, now under consideration for sale by TWE, benefitted greatly from its elevated profile in the region.

Transition to Accolade Wines and Navigating Turbulent Times

In 2020, Foye took the helm at Accolade Wines, initially joining as COO before being promoted to CEO within just two months. His appointment came as the company sought to capitalize on his experience in China and further expand into the market. However, external factors soon reshaped Accolade’s ambitions.

By the end of 2020, Australia’s wine exports to China came to a grinding halt due to anti-dumping tariffs imposed by Beijing. This posed a major setback for Accolade, which had been eyeing Chinese growth under Foye’s leadership. The COVID-19 pandemic further complicated the situation, limiting global trade and market opportunities. Despite these headwinds, Foye managed to keep the company resilient.

One of his standout achievements came in 2023 when Accolade partnered with NBA superstar James Harden to launch the J-Harden wine. Promoted via a livestream by Chinese influencer Xiao Yangge, the campaign became a viral sensation, selling 16,000 bottles in a mere 10 seconds. The success of the J-Harden brand showcased Foye’s ability to navigate the evolving dynamics of the Chinese market, even in difficult conditions.

Strategic Mergers and Acquisitions

Foye’s tenure at Accolade also coincided with significant corporate changes. In 2020, the Carlyle Group sold its majority stake in the company to a consortium of investors led by Bain & Co., ushering in a new era for the company. Foye worked closely with Bain & Co. as Accolade pursued new strategic initiatives, including merger discussions with Australian Vintage Ltd. Although these talks ultimately fell through, they underscored Accolade’s ambition for growth and consolidation in a competitive global wine market.

Most recently, under Foye’s leadership, Accolade’s investors acquired several well-known wine brands, including Jacob’s Creek, from Pernod Ricard. This acquisition aligns with Accolade’s broader strategy to expand its brand portfolio and strengthen its market position in key regions.

Foye’s Departure and Future Prospects

Foye’s decision to step down as CEO comes at a time when Accolade is poised for further growth, particularly with the integration of Pernod Ricard’s wine brands. In an internal memo to staff, the company’s board praised Foye’s contributions and explained his decision to leave as a natural time to move on, allowing him to focus on the next phase of his career and spend more time with family in Texas.

Ben Clarke, Accolade’s Chairman, will step into the role of Executive Chairman from September 2, tasked with leading the company into its next phase of development. Clarke’s leadership will be critical as Accolade navigates its evolving market dynamics and capitalizes on recent strategic moves.

A Lasting Legacy

Robert Foye’s tenure at both TWE and Accolade Wines has been marked by bold initiatives, creative partnerships, and strategic leadership in challenging times. His ability to tap into the lucrative Chinese market and secure influential brand partnerships, such as the NBA collaborations, set him apart as a leader capable of driving growth in dynamic and diverse markets.

While his next move remains unclear, Foye leaves behind a legacy of innovation and resilience in the wine industry. As he returns to Texas, the global wine industry will undoubtedly watch closely to see where his considerable expertise takes him next.

Source: Vino-Joy