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Treasury Wine CEO who led 'extraordinary transformation' retires, shares tumble

October 21, 2019

Clarke, whose turn at the helm saw Treasury stock surge fivefold, took over in 2014 when he was tasked with turning around fortunes after strained profit, weak China sales and cost troubles had stoked speculation of a takeover. What followed was a nearly tenfold jump in the Melbourne-headquartered company's post-tax earnings, with its latest annual profit scaling a record in August due to robust demand for its premium wines in China, now its biggest market.