Changes at accolade wines ahead of IPO

Accolade Wines CEO-in-waiting Michael East has taken over the top spot in the Australian wine company, it has been confirmed. East was appointed to the role as deputy chief executive in August after outgoing CEO Paul Schaafsma signaled his intent to step down following Champ confirming it was planning to list Accolade on the IPO. Schaafsma has allegedly announced to the board he would remain in the role until the conclusion of Champ’s ownership, which is not expected to happen before the end of the first half of 2017.

According to papers filed at Companies House in the UK in November, Schaafsma ceased to be a director of the UK business on November 11, but a spokesman for the company at the time told db at the time this was merely “part of the ongoing transition”. However it was confirmed today that East, who joined the business in 2012 and became general manager of its Australian and Asian business, was officially appointed CEO in September, with a handover period.