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Chapel Down appoints new CEO
The UK’s largest sparkling wine producer has announced the appointment of a new CEO and director, while both its CFO and non-executive director step away from the company.
Chapel Down has announced the appointment of James Pennefather as chief executive officer and director of Chapel Down. Pennefather has most recently held a role as CEO of The Lakes Distillery Company, where he led the business’s sale to The Nyetimber Group earlier this year.
His previous experience includes 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.”
Pennefather will commence his new role on 1st February 2025.
The new Chapel Down CEO said he was looking forward to leading the business as it “pursues the next stage of transformational growth for customers and shareholders”.
In October the company announced that it had concluded a strategic review into the business. Chapel Down decided to remain a standalone AIM listed company after the review found that “there were no transactions that would create superior long term shareholder value”.
The Kent-based producer first announced in June that it was considering putting itself up for sale as it conducted a strategic review of its business.
Stepping down
As well as its new hire, Chapel Down, which owns around 10% of the UK’s planted vineyards, today (13 December) also announced the resignation of Rob Smith as chief financial officer and director.
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.
Also announced today, non-executive director Stewart Gilliland has also resigned from his position on the board following three years of service.
The reshuffle in the company’s management team began in September, when incumbent CEO Andrew Carter announced he would be stepping down in the first half of 2025. Carter is leaving his position at Chapel Down to take the helm at Yorkshire brewery Timothy Taylor’s.
Pennefather, his soon-to-be successor, said of the transition: “Andrew leaves a strong legacy and I will be working closely with him and the Chapel Down management team to ensure a seamless transition.”
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