Australian wine powerhouse Treasury Wine Estates (TWE) has appointed Sam Fischer, current CEO of Lion, as its new Chief Executive Officer and Managing Director, succeeding Tim Ford, who has led the group since 2020.
The transition marks a pivotal moment for TWE as it seeks to accelerate growth in its luxury wine portfolio and respond to evolving global market dynamics.
The announcement, made via a stock exchange filing, confirms that Fischer will officially take on the role from 27 October 2025, pending regulatory approvals. Ford will continue to serve as CEO until 30 September, ensuring a smooth handover.
TWE, best known for its flagship Penfolds label, said Fischer’s appointment followed an extensive global succession planning process.
"Sam brings proven CEO credentials, exceptional strategic acumen, and deep expertise in alcohol beverages, consumer goods, and luxury brand building," said TWE Chairman John Mullen. “The Board and I firmly believe he is the right person to lead TWE into its next era of growth and performance.”
A Seasoned Industry Leader
Fischer’s appointment comes with over 30 years of experience in the alcoholic beverages and consumer sectors. At Lion, a subsidiary of Japan’s Kirin Holdings, Fischer led a portfolio spanning beer, wine, spirits, and RTDs across Australia, New Zealand, and the US.
Prior to Lion, Fischer spent 15 years at Diageo, one of the world’s largest spirits companies. There, he held several senior roles, including President of Asia Pacific, and served on the global executive committee. He also brings experience from consumer goods giant Colgate-Palmolive and currently serves as a non-executive director at Burberry Group.
Fischer expressed enthusiasm for the new role:
"TWE has an enviable portfolio of brands, a global footprint, and a strong luxury-led strategy. I’m looking forward to building on these excellent foundations to lead the next phase of TWE’s exciting evolution."
A Time of Transformation
Fischer’s arrival comes at a moment of strategic repositioning for TWE. Under Ford’s leadership, the company navigated a turbulent period, including the COVID-19 pandemic and punitive tariffs imposed—and later removed—on Australian wine exports to China. Ford also oversaw the transition to a divisional operating model, strengthening TWE’s focus on its premium and luxury offerings.
Yet, the path forward is not without challenges. In early 2025, TWE issued a profit warning, lowering its EBITS forecast for the fiscal year to AUD 780m—the bottom end of its previous guidance. This was largely due to underperformance in the Treasury Premium Brands division, where EBITS dropped nearly 30% in H1 FY2025, and margins fell to 6.4%. The segment struggled with weakened consumer demand for lower-priced wines and the absence of one-time asset sale gains.
Meanwhile, net sales revenue for the first half surged 20.2% to AUD 1.5bn, driven by robust performance in luxury labels, particularly Penfolds, and the integration of Daou Vineyards, acquired in December 2023.
Portfolio Strategy and Global Expansion
TWE’s evolving strategy has centered on its luxury wine segment. In a notable move, the company announced it would retain its “commercial” wine portfolio, which includes brands like Wolf Blass and Yellowglen, after failing to receive compelling offers during a divestiture process initiated in 2024.
Additionally, TWE continues to expand globally, most recently through the acquisition of a 75% stake in China's Ningxia Stone & Moon Winery for 130 million yuan (USD 18 million). The move aligns with its aim to invest in vineyard assets to support growth in high-end wine categories.
Despite a 61% drop in FY2024 net profit, overall performance remained stable, with EBITS growing 12.8% to AUD 658.1m and net sales revenue climbing 13.1% to AUD 2.73bn.
Looking Ahead
As TWE prepares for a new chapter under Fischer’s leadership, the focus is expected to remain on premiumisation, global market penetration, and operational efficiency. Fischer's appointment is seen as a strategic step to maintain momentum, address market pressures in lower-tier segments, and cement TWE’s position as a global leader in luxury wine.
Source: Yahoo Finance