Board and Executive Leadership change

Chapel Down today announces that the Board has accepted Andrew Carter's resignation as a Director and Chief Executive Officer of the Company. Andrew will begin a new role as Chief Executive Officer at Timothy Taylor & Co Ltd in 2025.

During his three years in role, Andrew has made a significant impact on the growth of Chapel Down, refocussing the business on its vision of being England's leading and most celebrated winemaker. Successfully leading the market listing onto AIM, the market capitalisation has increased substantially during the period of his leadership, driven by the development of the leading brand in the English Wine industry. Andrew has built a high-performance business culture with strong commercial and operations teams in place under an experienced executive leadership team, who will continue to deliver the future Chapel Down growth plans.

A recruitment process for the new CEO will commence shortly. Andrew will continue to lead the business until this process is completed in first half of 2025.

Martin Glenn, Chair of Chapel Down, commented: "Chapel Down has enjoyed huge success and celebrated several strategic milestones during Andrew's time as Chief Executive and he should be very proud of what the business has achieved and the top team he has developed around him. I and the Board have enjoyed working with Andrew immensely and wish him every success in his new role leading another iconic British brand. Chapel Down is the market leader in the English wine industry which continues to enjoy exceptional growth, and the team is highly motivated to execute the growth strategy and drive the continued development of the world's newest global wine region from the front."

Company Update

The strategic review of the options to fund Chapel Down's long term growth plan announced on the 25 June 2024 is ongoing and the Company will provide a further update in due course.