AUCKLAND: Foley Wines Limited [NZX: FWL] announced today that Chief Executive Officer and Director Mark Turnbull has tendered his resignation. Turnbull will step down as a director on February 17, 2025, and as CEO on April 30, 2025.
Turnbull joined Foley Family Wines NZ Limited in April 2012 and has served as CEO and director of Foley Wines Limited since September 2012. He led the company through a challenging period for both the New Zealand and global economies, as well as significant difficulties within the New Zealand wine industry.
Paul Brock, Chair of Foley Wines Limited, expressed gratitude for Turnbull’s contributions, stating, “Under Mark’s leadership, the company has made significant progress in achieving its ambition to be New Zealand’s most revered wine group. Mark leaves the company in a strong position to navigate the continuing challenges facing the New Zealand wine industry.”
Reflecting on his tenure, Turnbull said, “I became involved in the wine industry in 2009 via The New Zealand Wine Fund Ltd, which was sold to Foley Family Wines (USA) later that year. The wine industry is far more complicated than it seems; foremost, you are a farmer, which creates challenges in itself.
However, what I know about the farming community in this country is that they are made up of good people with strong values who are passionate about the land, the environment, and their communities. We have a small but hugely talented team, many of whom have been with me from the start. The results to be released in the next few weeks will show a strong growth in export cases of 35%, so the company is well placed for the future.”