Treasury Wine Appoints Industry Veteran Sam Fischer as CEO (1)

Treasury Wine Estates Ltd., the maker of Australia’s iconic Penfolds Grange red wine, named liquor industry veteran Sam Fischer as its next chief executive officer.

Fischer is currently CEO of Kirin Holding Co.’s Lion Nathan Ltd. unit, which has a portfolio spanning beer, wine and spirits. He also spent 15 years at global liquor group Diageo Plc, including a stint leading its Greater China and Asia-Pacific unit.

Sam Fischer

Source: Treasury Wine Estates Ltd.

Shares of Treasury Wine slumped as much as 8% after the announcement, before trading down 4.3% to A$8.73 a share as at 12 p.m. Sydney time.

Fischer’s replacement of ...