Naked Wines appoints Board member David Stead as Chairman of the Board of Directors

– UK, Norwich – Naked Wines PLC (LON: WINE) today announced the appointment of David Stead as Chairman of the Board of Directors, effective immediately, replacing Darryl Rawlings who has stepped down from the Board.

“I’d also like to welcome David to the role of Chairman. David brings a deep understanding of the Naked Wines model combined with extensive operating experience and I believe he will be a great asset to myself and the management team in navigating Naked successfully through the current market and consumer environment”, said CEO, Nick Devlin.

The company also announced that Deirdre Runnette will assume the role of Senior Independent Director effective today.

About David Stead

David Stead has served as a Director of Naked Wines since 2017 and currently serves as the Chair of Naked Wines Audit Committee and brings extensive Finance & UK Public markets experience to the board.

David Stead said: “I look forward to working closely with Nick and James in the coming months and beyond. My aim, together with the other non-executive directors, is to support them in delivering improved liquidity and sustainable profitability.”

About Naked Wines plc

Naked Wines connects everyday wine drinkers with the world’s best independent winemakers.

Why? Because we think it’s a better deal for everyone. Talented winemakers get the support, funding, and freedom they need to make the best wine they’ve ever made. The wine drinkers who support them get much better wine at much better prices than traditional retail.

It’s a unique business model. Naked Wines customers commit to a fixed monthly prepayment which goes towards their next purchase. Naked in turn funds the production costs for winemakers, generating savings that are passed back to its customers. It creates a virtuous circle that benefits both wine drinkers and winemakers.

Our mission is to change the way the whole wine industry works for the better. In the last financial year, we served more than 960,000 Angel members in the US, UK, and Australia, making us a leading player in the fast-growing direct-to-consumer wine market.

Our customers (who we call Angels) have direct access to 266 of the world’s best independent winemakers making over 2,500 quality wines in 20 countries. We collaborate with some of the world’s best independent winemakers like Matt Parish (Beringer, Stags’ Leap) and 8-time Winemaker of the Year Daryl Groom (Penfolds Grange).

For more information: https://www.nakedwines.com

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