Clarke's running out of time on Treasury Wine

While Treasury Wine's result may not look so encouraging at first glance, there are signs that Michael Clarke’s strategies are gaining traction. His biggest problem now is a lack of time.

If he weren’t being stalked by two giant private equity firms, Michael Clarke might feel encouraged by his first few months as chief executive of the perennially-challenged Treasury Wine Estates.

With Kohlberg Kravis Roberts & Co and, reportedly, TPG both in its data room undertaking due diligence for potential $3.4 billion-plus bids for the group, however, Clarke may not be given the time to realise the latent potential in the business.

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