Chapel Down, the UK’s leading sparkling wine producer, has announced a significant leadership transition with the appointment of a new chief executive officer and director. This move follows recent changes within the company’s executive team as it enters a new phase of strategic development.
James Pennefather named new Chapel Down CEO
The company has confirmed James Pennefather will assume the role of CEO and director, starting on 1st February 2025. Pennefather previously served as CEO of The Lakes Distillery Company, where he oversaw the business’s acquisition by The Nyetimber Group earlier in the year. His career also includes high-level positions at renowned global drinks companies William Grant & Sons and Diageo, where he gained leadership experience across several international markets including the UK, Middle East, Africa, and India.
Martin Glenn, Chairman of Chapel Down Group, expressed strong confidence in Pennefather’s capabilities. “We are delighted to have appointed James, who is an outstanding business leader with deep experience in building premium drinks brands within emerging categories,” Glenn stated. “He brings valuable expertise in customer relationships and enhancing shareholder value. Chapel Down has achieved great momentum, and James is ideally suited to lead its next phase of growth.”
Pennefather said he is eager to take the reins during this transformative period. He described his vision as focused on delivering continued progress for both customers and shareholders, as Chapel Down moves forward with its strategic goals.
Strategic review leads to independent path
The leadership change follows Chapel Down’s recent strategic review, concluded in October, in which the company evaluated potential future directions for the business. While it initially considered a sale, the review determined that remaining a standalone company listed on AIM was the best path forward. According to the findings, no alternative transactions offered a stronger long-term value for shareholders.
The Kent-based wine producer had first announced in June 2024 that it was exploring strategic options, including a potential sale, as part of efforts to position itself for future growth. The review’s outcome reaffirmed Chapel Down’s commitment to its independent operations and long-term development strategy.
CFO and non-executive director resign
Alongside the appointment of a new CEO, Chapel Down revealed further changes to its senior leadership team. Rob Smith, the current chief financial officer and director, has announced his resignation. However, Smith will remain in place to oversee financial operations until the company publishes its full-year results in April 2025. The search for his replacement is set to begin shortly, led by Chairman Martin Glenn and incoming CEO James Pennefather.
In another board change, Stewart Gilliland has stepped down as non-executive director after three years of service. His departure marks another key shift in the makeup of the company’s leadership, as it aligns its executive structure with its future goals.
Transition from outgoing CEO Andrew Carter
The company’s leadership restructuring began earlier in September, when current CEO Andrew Carter disclosed his plans to leave in the first half of 2025. Carter is set to join Yorkshire-based brewery Timothy Taylor’s as its new chief executive. His exit created the opening for Pennefather’s appointment and represents a broader reshaping of the company’s executive direction.
Pennefather has acknowledged Carter’s contributions and said he intends to work closely with him during the transition to ensure continuity. “Andrew leaves a strong legacy and I will be working closely with him and the Chapel Down management team to ensure a seamless transition,” he stated.
With a new CEO preparing to take charge and ongoing leadership recruitment underway, Chapel Down is entering a pivotal moment as it focuses on growth, operational strength, and delivering shareholder value.