Naked Wine Regulatory News (WINE)

7 November 2023

Naked Wines plc

("Naked Wines" or "Group")

Board Change

As stated in the separate trading and guidance update issued today, Naked Wines plc announces that Nick Devlin has agreed with the Board that he will step down from the Board and his role as CEO with immediate effect. Rowan Gormley, founder and Chairman, will take the role of Executive Chairman on an interim basis until a successor is appointed. Nick will continue in the role of President, Naked Wines USA through the peak trading period before leaving the Group fully. The process to appoint a permanent CEO will commence immediately. 

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About Naked Wines plc

Naked Wines connects everyday wine drinkers with the world's best independent winemakers.

Why? Because we think it's a better deal for everyone. Talented winemakers get the support, funding and freedom they need to make the best wine they've ever made. The wine drinkers who support them get much better wine at much better prices than traditional retail.

It's a unique business model. Naked Wines customers commit to a fixed prepayment each month which goes towards their next purchase. Naked in turn funds the production costs for winemakers, generating savings that are passed back to its customers. It creates a virtuous circle that benefits both wine drinker and winemaker.

Our mission is to change the way the whole wine industry works for the better. In the last financial year, we served more than 867,000 Angel members in the US, UK and Australia, making us a leading player in the fast-growing direct-to-consumer wine market.

Our customers (who we call Angel members) have direct access to 293 of the world's best independent winemakers making over 1,800 quality wines in 21 different countries. We collaborate with some of the world's best independent winemakers like Matt Parish (Beringer, Stags' Leap) and 8-time Winemaker of the Year Daryl Groom (Penfolds Grange).