Chairman Jim Anderson has been appointed executive chairman to continue Acolade’s quest to acquire a portfolio of premium wines from Fine Wine Partners, plan the construction of a bottling line in South Australia and improve distribution and sales in China.
East said: “I had always intended to retire at the beginning of 2019 and I believe it is the right thing to do so now in view of the longer time scale for an eventual IPO.”
Anderson added: “I want to thank Michael for taking on the CEO role at short notice last year and recognise his distinguished professionalism at Accolade.
“Michael has made a major contribution to Accolade through his leadership of the Australia and New Zealand business over the last five years. The Board wishes him well in his future retirement.”