Naked Wines PLC (AIM:WINE, OTCQX:NWINF), the online retailer, traded more than 4.5% higher on Tuesday after it appointed former AB InBev head Rodrigo Maza as its UK managing director.
Maza spent over 10 years at leading brewer Anheuser-Busch InBev (NYSE:BUD) and seven years at Grupo Modelo, where he worked in senior roles in divisions such as e-commerce and sales.
James Crawford, the wine company’s current managing director for the UK, will return to his role as chief financial officer as Maza begins his role immediately.
With a turnaround strategy in place to reignite some of the lockdown-driven success, Naked Wines said the new appointment will help drive brand awareness and allow for more digital-first initiatives.
Global chief executive officer at Naked Wines, Nick Devlin, said: “Maza’s extensive strategic experience, relentless customer focus and track record of driving innovation in the beverage space make him a natural leader for our key UK business.”
Naked Wines posted pre-tax losses of £15 million for the 2023 financial year and with both new and recurring customer sales slipping, the Cambridge-based director will have his work cut out to stoke some well-needed growth.
Commenting after joining the wine firm, Maza said: “Naked is a trailblazing business that sets a great example with its authentic purpose.
“Together, we will continue to enhance our online offerings and ensure that Naked Wines remains synonymous with great wine, innovation, and exceptional customer experiences.”
Naked Wines has lost two thirds of its market value in 2023 alone and with founder Rowan Gormley returning at the helm, the group will be hoping the new appointments can lift it from its current 45p price.