Russell Joy named COO for Vintage Wine Estates, Inc.
SANTA ROSA, Calif., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ: VWE) (TSX: VWE.U) (TSX: VWE.WT.U) (“VWE” or the “Company”), one of the fastest growing U.S. wine producers with an industry leading direct-to-customer platform, today announced the succession plan for its Chief Operating Officer (COO). Russell G. Joy, who brings over 20 years of wine industry experience spanning finance and operations, will be appointed COO effective November 1, 2021, succeeding Jeff Nicholson, who will retire from the Company effective October 29, 2021.
Mr. Joy has held key roles in the wine industry most recently as General Manager of Napa Wine Company where he managed the upgrading of its facility while leading a culture change. Previous to that role, he was vice president of California operations for Ste. Michelle Wine Estates which had acquired Patz & Hall Wine Company where Mr. Joy had held the position of CEO, president and general manager for eleven years from the startup of the business. He joined the wine industry as controller for Allied Domecq Wines then moved on to become chief financial officer of Sebastiani Vineyards, Inc and subsequently joined Viansa Winery as CFO and president. He began his career as a CPA with Touche Ross & Co, now known as Deloitte.
Pat Roney, Founder and Chief Executive Officer of Vintage Wine Estates, Inc., commented, “Russ has a strong track record of execution and proven leadership skills that I expect to prove valuable as we continue to execute our strategy for growth. He brings extensive operating and finance experience to the team that should prove beneficial as well for our transition into the public reporting realm. These are exciting times at VWE as we execute our plans to drive growth by leveraging our differentiated, business model encompassing three channel-to-market platforms.”
He concluded, “Jeff joined us in 2019 to help us drive greater scalability and ultimately prepare us for our transition to a public company. He was instrumental in the successful expansion of our bottling line and warehousing capacity as well as effectively meeting the surge in demand we realized from both our direct-to-consumer and private label businesses these past nearly two and a half years. We look forward to Jeff’s continued contributions in support of special projects.”
About Vintage Wine Estates, Inc.
Vintage Wine Estates is a family of wineries and wines whose mission is to produce the finest quality wines and provide incredible customer experiences with wineries throughout Napa, Sonoma, California’s Central Coast, Oregon and Washington State. Since its founding 20 years ago, the Company has grown to be the 15thlargest wine producer in the U.S. selling more than two million nine-liter equivalent cases annually. To consistently drive growth, the Company curates, creates, stewards and markets its many brands and services to customers and end consumers via a balanced omni-channel strategy encompassing direct-to-consumer, wholesale and exclusive brand arrangements with national retailers. While VWE is diverse across price points and varietals with over 50 brands ranging from $10 to $150 at retail, its primary focus is on the fastest growing premium segment of the wine industry with the majority of brands selling in the $12 to $20 price range. The Company regularly posts updates and additional information at https://www.vintagewineestates.com/.