The chairman of McGuigan owner Australian Vintage says the axing of chief executive Craig Garvin for conduct that showed a “lack of judgment” will have no impact on prospects for a merger with Accolade Wines to create an enlarged No. 2 industry giant.
Fund managers were surprised at the turmoil at the top, amid speculation that it could potentially derail a deal.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
