Yalumba clocktower. Image supplied.

Significant changes to the Executive Board of Directors at Yalumba were announced this week, including the retirement of managing director Nick Waterman in September this year.

Waterman led the business as CEO since March 2015, and during this time has operationally contemporised Yalumba in preparation for future generations.

Waterman joined the company’s distribution business Negociants Australia in 2003 and quickly worked his way to executive director – strategy and trading and then chief operating officer in 2014.

As well as his dedication to Yalumba, Waterman was commended for his contribution to the wine industry, including presidency of the South Australian Wine Industry Association.

Moving into the role of managing director is current executive director – commercial at Yalumba, Karl Martin. Martin joined the business in 1994, serving in a number of finance, support and executive roles in four different countries before taking on his current role in 2010.

Fifth-generation proprietor and Yalumba Chairman Robert Hill-Smith reflected on Waterman’s time as managing director.

“Nick has approached the CEO task with incredible stamina, loyalty, resilience and intelligence and we are in many ways a transformed wine company that now, thanks to him, is set to drive our aspirations with confidence,” Hill-Smith said.

“Needless to say, we shall miss his leadership, presence and character whilst recognising so much more work is set to go under our bridge before that time comes.”

“We have every confidence that Karl will continue Nick’s exceptional leadership, taking us further along our journey, managing our unique culture and growing our wine business in line with our family’s vision.”

All changes will commence 30 September 2022.

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