Treasury’s New CEO Sees a Future with Luxury Brands

Dear Client: You may have caught our late night coverage (see WSD 04-07-2014 ) of Treasury Wine Estates' new chief, Michael Clarke's, presentation to analysts. Our issue focused on Michael's determination to consider all options available to him in fixing the company - including his openness to selling off brands - but Michael also addressed his strategies for the existing portfolio. Namely, he sees more opportunity in their higher-end portfolio and seems to be turning away from Treasury's value end.