Appointment of Chief Financial Officer

RNS Number : 5027F

Naked Wines PLC

17 November 2020

 

17 November 2020

Naked Wines plc

("Naked Wines" or "Naked")

Appointment of Chief Financial Officer and director

Naked Wines is delighted to announce the appointment of Shawn Tabak as Chief Financial Officer ("CFO"). Shawn will join Naked on 7 December 2020.

This follows the previous announcement that James Crawford, current CFO of Naked, has been appointed Managing Director of the Naked Wines' UK business. James will hand over his duties as CFO to Shawn during December and step down from the board on 31 December 2020, at which point Shawn will be appointed to the Board.

Shawn was previously Vice President of Finance at Upwork Inc., the world's largest work marketplace that connects businesses with independent talent, Vice President of Investor Relations and Treasury at Shutterfly and CFO at Clean Power Finance, a venture-backed company. Prior to working in industry, Shawn spent 10 years at KPMG in the USA and Australia, across a range of audit and transaction services roles, during which time he achieved his CPA qualification. He will be based out of Naked's US Headquarters in Napa, CA.

Nick Devlin, Group CEO, commented:

"I'm delighted that Shawn will be joining Naked and am excited about partnering with him to deliver the next stage in Naked's growth. Shawn's deep understanding of driving growth through a focus on customer economics and cohorts makes him ideally suited to the role at Naked. Additionally, his understanding of the US market will be highly valuable and recruiting this role in the USA, our largest market, is another key step in our transition from British start-up to a US-led global pureplay.

I'm also delighted to be working with James in his new role and given his history with Naked he will hit the ground running. James has guided the business through many challenges as a start-up and through its growth story and he will now continue to grow our UK operations in his new role as UK MD."

Shawn Tabak, incoming Group CFO, commented:

"I'm delighted to join the team at Naked Wines, a company that's disrupting the wine industry for the benefit of consumers and independent winemakers. This is an exciting time as the company's differentiated business delivers superior value to wine consumers in a large and growing online wine market, and I look forward to working with this strong team to create value for customers, employees, and shareholders."

Shawn Tabak (41) holds or has held the following directorships in the past five years:

Current Directorships or Partnerships	Previous Directorships or Partnerships
Nil	Nil

Mr. Tabak does not hold any shares in the Group. There are no other matters which are required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

For further information, please contact:

Naked Wines PLC                                                                         [e-mail]

Nick Devlin, Chief Executive Officer

James Crawford, Chief Financial Officer

Investec (Joint Corporate Broker)                                            Tel: [phone]

David Flin / Carlton Nelson

Jefferies International Limited (Joint Corporate Broker)    Tel: [phone]

Ed Matthews / Harry Clements / Yusuf Subzposh

Instinctif Partners (PR Agency)                                                Tel: [phone]

Damian Reece / Guy Scarborough / Sarah Hourahane    or  07931 598 593

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 prepayment each month 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 drinker and winemaker.

Our mission is to change the way the whole wine industry works for the better. In the last year, we have served nearly 600,000 individual customers 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 over 200 of the world's best independent winemakers making over 1,000 quality wines in 19 different 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).

 

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