Accolade Wines boss Paul Schaafsma to step down as IPO looms
Paul Schaafsma is stepping down from his role as chief executive at Accolade Wines less than a year after he was promoted to the top job.
Schaafsma headed up its UK arm for three years before he became overall chief executive in October 2015, but he is bowing out as the company plans an IPO worth around AUS$1billion – 1.5 billion (£580 million - £850 million).
Accolade’s 80% owner Champ Equity has named Michael East, currently general manager of Accolade’s Australian and Asian division, as Schaafsma’s successor.
Schaafsma is understood to have been prepared to help with the listing but did not want to commit himself to the role for the next few years as he is keen to pursue other opportunities.