Treasury Wine Estates has announced that Lion’s Sam Fischer will become its Chief Executive Officer and Managing Director effective from 27 October 2025.

Fischer will succeed Tim Ford, who is leaving TWE after a 14-year career with the company, including five years as
CEO and Managing Director.

Fischer will receive annual renumeration of $1.75 million in base salary, plus short and long-term incentives and a $4 million sign-on fee for forgoing incentives with Lion.

TWE said succession planning undertaken by the Board, with Ford included, had been underway for an extended period of time, including a comprehensive global search, culminating in Fischer’s appointment.

TWE noted: “Fischer is a proven CEO with more than 30 years of global experience in alcohol beverages, consumer goods and luxury brands, with an impressive track record leading organisations through periods of significant transformation and growth.

“Fischer is currently the CEO of Lion (owned by the Kirin Group), an alcohol beverage industry leader whose portfolio spans beer, wine, spirits and ready to drink beverages, through operations in Australia, New Zealand and the United States.

“During his three years with Lion, Mr Fischer has delivered decisive leadership to return the business to a market leader with a high performance culture.”

Prior to joining Lion, Fischer spent 15 years with global alcohol beverage leader Diageo in various roles, including as President, Asia Pacific & Global Travel and as a member of the Global Diageo Executive Committee, reporting to the CEO.

TWE Chairman John Mullen said: “Following an extensive global search for Tim’s successor, I’m thrilled to welcome Sam to TWE. With over 30 years of global leadership experience, Sam brings proven CEO credentials, exceptional strategic acumen, and deep expertise in alcohol beverages, consumer goods and luxury brand building, accompanied by a strong track record
of driving business growth. Having assessed a highly competitive field of candidates, the Board and I firmly believe that Sam is the right person to lead TWE into its next era of growth and performance.”

Fischer said: “It’s a privilege to be joining TWE with its enviable portfolio of brands, global footprint, strong luxury-led strategy and highly talented team. I’ve long admired the business and it’s an honour to have been selected by the Board
to build on the excellent foundations to lead the next phase of TWE’s exciting evolution.”

In order to ensure a smooth transition, Tim Ford will remain as Chief Executive Officer and Managing Director of TWE until 30 September 2025.

Mullen said: “Tim has led TWE during a period of significant change and will be known for his courage in setting bold ambitions, leading to the delivery of significantly strengthened financial performance.

“As CEO, Tim has stewarded the Company through the pandemic, the application and removal of tariffs on
Australian wine into China and the transformation of the business to its divisional operating model, led by Penfolds.

“Concurrently, Tim instigated the strategic portfolio shift to luxury wine, which included the divestment of the US commercial wine business, and the acquisitions of the Frank Family Vineyards and DAOU luxury brands.

“TWE is a significantly stronger and more focused business as a result of Tim’s vision and leadership, and the Company will benefit from his legacy for many years to come. He will be missed, and we sincerely thank Tim while wishing him every ongoing success.”

Ford said: “Leading TWE over the past five years has without doubt been the highlight of my career. I am immensely proud of all that our team has achieved, both during my tenure as CEO and across my broader career at TWE. I thank our team for all their dedication in building TWE into a global leader in luxury wine.

“It has been my absolute pleasure and privilege to lead TWE and I have full confidence in Sam and our talented team’s ability to build on our position of strength and take the Company forward over the long-term, maximising the opportunities ahead.”

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