-- Treasury Wine Estates (ASX:TWE) will transition to a new regional operating model, effective Oct. 1, according to a Wednesday Australian bourse filing.
Under the new model, the company will operate four regional divisions: the Americas; Australia and New Zealand (ANZ) and Europe; Greater China; and emerging markets, which cover the rest of Asia, Middle East, and Africa.
Each division will house front-end core commercial capabilities across sales, marketing, direct to consumer, and commercial strategy, per the filing. The company will retain specialist luxury sales capabilities in key markets and channels, and prioritize investment in Penfolds and other priority luxury brands.
Tom King, currently the managing director of Penfolds, will assume the new role of chief commercial officer, the filing said. Kristy Keyte, currently the chief marketing officer for Penfolds, will assume the new role of chief marketing and innovation officer.
The company continues to expect that fiscal second half earnings before interest, tax, self-generating and regenerating assets will be higher than the first half. It does not expect increased costs to have a material impact in fiscal 2026 in the wake of the Middle East conflict, and it will continue to monitor the situation for possible impacts.
The company also established new debt commitments worth AU$300 million in total from a number of lenders within its global banking group on terms consistent with existing debt arrangements to be used to refinance fiscal 2027 debt maturities and further increase its liquidity position.