Treasury Wine Estates re-elected Chairman John Mullen with 85.45% support at its Oct. 16, 2025, AGM despite governance concerns and financial challenges.

At Treasury Wine Estates’ Oct. 16, 2025, AGM, Chairman John Mullen was re-elected with 85.45% support despite shareholder concerns over the company’s 40% stock decline, weak China sales, U.S. distribution issues, and Mullen’s multiple board roles. Proxy advisors urged against him, citing governance risks, but Mullen defended his commitment, noting the leadership gap after the former CEO’s departure and the upcoming arrival of new CEO Sam Fischer on Oct. 27. He justified a A$4 million sign-on bonus for Fischer as necessary to retain him, and the company announced a share buyback and strategic shifts, including redirecting inventory to new markets, as it navigates ongoing challenges.