TIDMWINE

RNS Number : 5650S

Naked Wines PLC

07 November 2023

7 November 2023

Naked Wines plc

("Naked Wines" or "Group")

Board Change

As stated in the separate trading and guidance update issued today, Naked Wines plc announces that Nick Devlin has agreed with the Board that he will step down from the Board and his role as CEO with immediate effect. Rowan Gormley, founder and Chairman, will take the role of Executive Chairman on an interim basis until a successor is appointed. Nick will continue in the role of President, Naked Wines USA through the peak trading period before leaving the Group fully. The process to appoint a permanent CEO will commence immediately.

For further information, please contact:

 
 Naked Wines plc                      IR@nakedwines.com 
  Rowan Gormley, Executive Chairman 
  James Crawford, Chief Financial 
  Officer 
  Chris MacDonald 
 Investec (NOMAD & Joint Broker)      Tel: 0207 597 5970 
  David Flin / Carlton Nelson 
  / Ben Farrow 
 Jefferies (Joint Broker)             Tel: 0207 029 8000 
  Ed Matthews / Harry le May / 
  Gill O'Driscoll 
 Instinctif (Financial PR)            Tel: 07917 178 920 / 07931 598 
  Guy Scarborough / Damian Reece       593

About Naked Wines plc

Naked Wines connects everyday wine drinkers with the world's best independent winemakers.

Why? Because we think it's a better deal for everyone. Talented winemakers get the support, funding and freedom they need to make the best wine they've ever made. The wine drinkers who support them get much better wine at much better prices than traditional retail.

It's a unique business model. Naked Wines customers commit to a fixed prepayment each month which goes towards their next purchase. Naked in turn funds the production costs for winemakers, generating savings that are passed back to its customers. It creates a virtuous circle that benefits both wine drinker and winemaker.

Our mission is to change the way the whole wine industry works for the better. In the last financial year, we served more than 867,000 Angel members in the US, UK and Australia, making us a leading player in the fast-growing direct-to-consumer wine market.

Our customers (who we call Angel members) have direct access to 293 of the world's best independent winemakers making over 1,800 quality wines in 21 different countries. We collaborate with some of the world's best independent winemakers like Matt Parish (Beringer, Stags' Leap) and 8-time Winemaker of the Year Daryl Groom (Penfolds Grange).

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(END) Dow Jones Newswires

November 07, 2023 02:00 ET (07:00 GMT)

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