Accolade CEO Troy Christensen leaves abruptly
- Friday 30 November 2012
'Mutual agreement': Christensen
Christensen left the business today, on the same day that Accolade announced the news.
A brief statement by Accolade's majority owner, Australia-based CHAMP Private Equity, said Christensen was leaving 'by mutual agreement'.
No specific reason was given for his departure, which follows a management shake-up of the group's key UK and Europe business over the summer.
'Troy's departure does not signal any fundamental change in strategy,' said CHAMP's MD, John Haddock. 'Troy has performed a very valuable role in the first phase of [our] ownership and we wish him well.'
Christensen has agreed to help Accolade - which owns Hardys - with its transition to a new CEO, while Korn/Ferry International is conducting a global search for his successor.
It is five and half years since Christensen became CEO of the then Constellation Europe.
Following CHAMP's acquisition of Constellation's Europe and Australia arms in 2011, Christensen effectively retained his position to become CEO of the newly-named Accolade Wines.
In the summer this year, Accolade split its mainland Europe business from the UK and Ireland division, appointing Ted Popov and Paul Schaafsma to head each unit respectively.
No one at Accolade headquarters in Australia was immediately available for comment.