REG - Chapel Down Group - CEO Appointment, Directorate Change & Outlook

Chapel DownAnnouncement

13/12/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241213:nRSM9478Pa&default-theme=true

RNS Number : 9478P  Chapel Down Group PLC  13 December 2024

This announcement contains inside information for the purposes of the retained
UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK MAR").

 

Chapel Down Group Plc

('CDG' or 'the Company')

EPIC: CDGP

CHIEF EXECUTIVE OFFICER APPOINTMENT, DIRECTORATE CHANGES AND OUTLOOK

 

Chief Executive Officer Appointment

The Board of Chapel Down is delighted to announce the appointment of James
Pennefather as Chief Executive Officer and Director of Chapel Down, with James
to commence his new role on 1(st) February 2025. James has worked in the
premium drinks industry for over 25 years and was most recently CEO of The
Lakes Distillery Company PLC, where he led the business's successful sale to
The Nyetimber Group earlier this year. Prior to that, James held a number of
senior leadership roles at William Grant & Sons and Diageo across the UK,
Middle East, Africa and India.

Martin Glenn, Chairman of Chapel Down Group, commented: "We are delighted to
have appointed James, who is an outstanding business leader with deep
experience in building premium drinks brands within emerging categories,
developing strong customer relationships in the UK and globally and enhancing
shareholder value. Chapel Down has made excellent progress as a business and a
brand, and James is well placed to continue Chapel Down's development and
growth."

James Pennefather said: "I am excited to be joining Chapel Down at such an
important time in the Company's growth story. Chapel Down is the leading
English winemaker and I look forward to leading the business as it pursues the
next stage of transformational growth for customers and shareholders. Andrew
leaves a strong legacy and I will be working closely with him and the Chapel
Down management team to ensure a seamless transition."

Directorate Changes

Chapel Down additionally announces that the Board has accepted the resignation
of Rob Smith as Chief Financial Officer and Director.

Rob has made a significant positive impact on Chapel Down since joining in
September 2022, playing a major role in refocusing the Company on being the
leading and most celebrated winemaker in the UK. He has been instrumental in
many strategic achievements including creating a single, cloud-enabled
technology and data platform for the business covering Sales, CRM and ERP and
the Company's successful admission to AIM in December 2023. In addition, he
has supported Andrew Carter, CEO, in creating a strong business culture and a
high-performance finance team with a focus on controls and providing data
driven insight to the Company.

Rob will continue as a Director and lead Finance until the publication of the
full year results around April 2025. The recruitment for his successor will
commence shortly, led by the Chair and new CEO James Pennefather.

Finally, following three years of service as a Non-Executive Director of
Chapel Down, Stewart Gilliland has resigned his position on the Board. The
Board would like to thank him for his extensive and insightful contribution to
the business.

Outlook

The Chapel Down Board has great confidence in the continued growth of the
English wine region and Chapel Down's continued leadership within the
industry, underpinned by the quality of its traditional method Sparkling
English wines. Chapel Down continues to build on its strong brand leadership
position, supported by its 1,024 acres of high-quality vineyards, the
industry's broadest UK distribution and a growing international opportunity.

The company confirms that the 2024 Harvest has been successfully completed and
is in line with previously announced tonnage and with an excellent vintage
quality. The Company further confirms that trading in the important final
quarter of the year has been strong. The Company's full year position remains
in line with management expectations, with the business carrying positive
momentum into the new calendar year. A trading statement will be issued in the
second half of January in accordance with the Company's normal practice.

A further announcement confirming the appointment of James Pennefather,
disclosing information in respect of Schedule 2(g) of the AIM Rules, will be
made on completion of customary regulatory due diligence checks.

Contacts

 

 Chapel Down Group plc    Chief Executive Officer

 Andrew Carter            Chief Financial Officer       01580 763 033

 Rob Smith

                          Nominated Adviser and Broker

 Singer Capital Markets

 Shaun Dobson                                           020 7496 3000

 Tom Salvesen

 Asha Chotai

 James Todd

 H/Advisors Maitland

 Sam Cartwright                                         020 73795151

 Jonathan Cook

 

About Chapel Down:

Chapel Down (AIM: CDGP) is England's leading and largest winemaker and the
power brand of English wine, the world's newest international wine region.
From its home in Kent in the heart of the Garden of England, Chapel Down
produces a range of sparking and still wines which consistently win
prestigious international awards for their quality. Chapel Down has over 1,000
acres of vineyards, of which 750 acres are fully productive.

Chapel Down's status as the most recognised English wine brand is supported by
its partnerships with flagship sporting and cultural events including Ascot,
The Boat Race and Pub in the Park, and Chapel Down is the 'Official Sparkling
Wine' of the England and Wales Cricket Board.

Chapel Down is listed on the London Stock Exchange's AIM and has over 10,000
retail investors who enjoy discounts on Chapel Down's wines, tours and
tastings at the brand's home at Tenterden in Kent, which each year attracts
c60,000 visitors.

Chapel Down is strongly committed to growing its business in balance with the
environment and sustainability is a strong, ongoing focus. The company is a
founding member of Sustainable Wines of Great Britain and practices
sustainable viticulture.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAQKBBKBBDBQBD