The impending retirement of Spanish wine pioneer Miguel Torres has sparked speculation that one of his children will take over the family business – but which one will it be?
Under company regulations, Miguel Torres will retire this year when he reaches his 70th birthday, as Sarah Jane Evans MW discovers in a profile of the business featured in the March issue of Decanter magazine.
Torres, Decanter Man of the Year in 2002, has two out of his three children involved in the business: daughter Mireia Torres, the company’s technical director; and son Miguel Torres Jr, currently running Torres’ Chilean interests.
The common assumption is that one of the two will take over from their father, but Evans writes in the profile: ‘The question nags: who will he choose? If they know, they’re not telling.’
Torres called in consultants to draw up a succession protocol, limiting the future involvement of family members in the business and requiring them to have a university degree and at least three years’ external experience before joining the company.
Miguel Torres Snr, who took over the company when his father died in 1991, has pioneered a number of new ventures in his career with the business, including investing in Chile and establishing joint ventures in China and India.
More recently, the company’s Spanish wine interests have expanded into Toro, Ribera del Duero, Priorat and Rioja.
For the full profile of Torres, see the March issue of Decanter magazine, out now.
Written by Richard Woodard