Naked Wine Regulatory News (WINE)

Majestic Wine PLC

Directorate Changes

13 June 2019

Majestic Wine PLC announces that, due to an increase in other professional commitments, Greg Hodder will step down as Chairman at the conclusion of the AGM in August and will retire from the Board six months later after a period of transition.

The Board is pleased to announce the appointment of John C. Walden as Non-Executive Director and Chairman Designate. John has been at the forefront of multi-channel, consumer-driven retailing for more than 20 years, with a proven record of growth across a diverse range of organisations, from start-ups to listed companies. He has been successful in creating transformational results through strategic insight, engaging leadership and ability to combine entrepreneurialism with scale. John has specific expertise in digital and multi-channel consumer businesses and in leading reinvigoration, turnaround and organizational change in established enterprises across the US and UK markets.

The Board is also pleased to announce the appointment of Nicholas Devlin to the Board as an Executive Director in the new position of Group Chief Operating Officer. Nick has been, and will remain, the President of our US Naked Wines division and is based in California. Nick has played a significant role in the development of our current business worldwide and has a wealth of experience in corporate strategy, specifically in analytical problem solving and customer segmentation.

Both appointments will take effect from today.

Ian Harding, Senior Independent Director, commented:

"I am delighted to welcome John to our Board as Chairman Designate. Following an extensive external selection process, it was evident that John was uniquely qualified to become our next Chairman. His experience of UK plc corporate governance, digital and multi-channel consumer businesses and US markets will be an invaluable asset to the Board as we enter our new growth phase.

"I am also delighted to welcome Nick to the Board. The Group has ambitious growth plans and now is the time to strengthen the leadership team with this newly created COO role to help successfully deliver our full potential. It is a testament to the quality and depth of the people in our business that we have been able to make this an internal appointment.

"Lastly, on behalf of the Board, I would like to thank Greg for his dedication, guidance and oversight of the Group's transition. He will be missed and I thank him for agreeing to stay an extra six months to ensure a smooth transition at this important time for the business."

John C. Walden, Chairman Designate, commented:

"I am delighted to be joining the team at this pivotal time and am looking forward to the opportunity to work together with them to deliver on the new strategy in a way that will benefit all concerned."

John Carl Walden (59) holds or has held the following directorships in the past five years:

John joined FTD Companies INC ("FTD") for a period from March 2017 to July 2018, the purpose of which was to assist FTD with a turnaround plan. On 3 June 2019, FTD announced that it and substantially all of its domestic subsidiaries had filed voluntary petitions commencing cases under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware to facilitate the completion of strategic initiatives resulting from the FTD's previously announced strategic review.

Mr. Walden holds no shares in the Group.

Nicholas James Devlin (34) holds or has held the following directorships in the past five years:

Mr. Devlin holds 15,349 shares in the Group in his personal capacity and 4,532 shares through a related person (his spouse). There are no other matters which are required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

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