Treasury slides on CEO exit

Winemaker's board resolves to look for CEO with 'stronger operational focus' after US writedowns, stocks fall more than 5%.

Treasury Wine Estates (TWE) chief executive officer David Dearie will depart the group effective immediately, following a review by the group's board that determined it was in need of a more ambitious leader.

At 1048 AEST Treasury shares were 5.89% lower at $4.47, against a benchmark index decline of 0.9%.

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