Australia's Treasury Wine Estates hits near one-month low on CEO transition

Treasury Wine Estates

15/05/2025 04:16

** Shares of Treasury Wine Estates TWE.AX fall 5.2% to A$8.65, their lowest level since April 22

** The Australian winemaker said Sam Fischer will take over as chief executive officer in October, succeeding Tim Ford

** Stock among top losers on benchmark S&P/ASX 200 .AXJO index

** Around 5.1 mln shares change hands, vs the 30-day average of 4.3 mln shares

** Stock fell as much as 7.9% earlier in the day, marking its weakest trading session since mid-February

** CEO transition increases risk to longer-term targets given persistent U.S. market weakness and building China inventory - Jefferies

** Stock down 24.1% this year, including the session's move

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))