Naked Wines Welcomes Back Founder Rowan Gormley as Chairman
Former CEO of Naked Wines, Rowan Gormley, has been instated as the company’s chairman of the board, effective immediately. After announcing his resignation in 2019, Gormley rejoined the company as an advisor in 2022.
He is succeeding David Stead, who is vacating the chairman position and exiting the board.
This development coincides with the company’s announcement of a postponement in its full-year results, which were initially planned to be revealed on July 6. As part of an operational update, Naked Wines affirmed its earlier guidance for the 53-week period ending April 3, forecasting its adjusted EBIT to align with the higher end of the £15-18 million guidance spectrum. In parallel, the company reported a 6-8% decrease in sales on a comparable basis.
The company acknowledged that its sales during the first quarter of the fiscal year have not met expectations, predominantly due to diminished rates of new customer acquisition.
In line with changes in the board, Naked Wines declared that in pursuit of sustainable and profitable growth, the company needs to bolster its customer recruitment efforts.
The company’s statement said, “With a legacy of founding Naked Wines in 2008 and guiding it to a turnover close to £200m, Rowan is suitably qualified to support this ambition.”
Gratitude to David
On accepting his new role, Gormley expressed his gratitude to David and the team for steering the company through a demanding transition amidst a volatile market. He emphasized the company’s track record of delivering profits and his excitement about moving onto the next phase of developing strategies for achieving sustainable, profitable growth. Gormley is enthusiastic about returning to a much larger enterprise that promises an exciting future and is eager to collaborate closely with the revamped board to actualize Naked Wines’ full potential.
The stakeholder
Gormley is a major stakeholder in the company, owning 1.8 million shares.
In related news, Jack Pailing has been brought onboard as an independent director. Pailing is a representative of Colebrooke Partners, a shareholder with 368,116 shares in the company.
