Core Viewpoint - Foley Wines has appointed Mike Higgins as the new CEO, succeeding Mark Turnbull, who resigned earlier this year. Higgins aims to enhance the company's growth and premiumisation strategy to deliver value to customers, team members, and shareholders [1][2][5]. Company Leadership - Mike Higgins has been the interim CEO since February 2023 and officially takes on the role following Turnbull's departure [1]. - Higgins previously served as chief executive of Foley Hospitality and has extensive experience in commercial roles, including nearly 23 years at Clemenger Group [2][3]. Financial Performance - For the year ended 30 June, Foley Wines reported a 6% increase in bottled wine revenue to NZ$66.3 million (approximately $37.9 million) and a 9% growth in case volumes to 610,000 [5]. - However, the company's operating earnings fell by 66.4% to NZ$1.3 million, with an after-tax loss of NZ$1.8 million, a decrease of 54.5%. Operating EBITDA declined by 21.9% to $12.6 million [6]. Market Position - Despite a 7% decline in the wider market for packaged wine, Foley Wines' case sales increased by 9%, with export case sales rising by 14.6%. This indicates the effectiveness of the company's premiumisation strategy [6][7].