Source: Young's Market

August 19th

Young's Market Company announced today that it has hired Ray Chadwick to fill the newly created position of Corporate Executive Vice President, Wine. In his new role at Young's, Mr. Chadwick will oversee all of the wine business of Young's Market Company and its affiliates.

In making the announcement Christopher Underwood, CEO of Young's Market Company said: "Young's is truly delighted that we have been able to retain the services of one of the industry's most prominent and respected wine professionals to oversee the Company's and its affiliates' wine enterprise. Ray served as President of Diageo Chateau & Estate Wines from 2001 to July 1, 2009, when he stepped down after 35 years in the beverage alcohol business. Prior to his role at Diageo, Ray served as the Executive Vice President and Chief Financial Officer of the Seagram Chateau & Estates Wine Company. In that capacity Ray was responsible for the overall direction of the finance function, long range and strategic planning, international sales, business development, information services and environmental affairs. Concurrently with his role at Seagram, Ray served as Managing Director of Barton & Guestier, S.A. Young's Market Company is indeed fortunate to have a person of Ray's immense talent and experience to oversee the Companies' wine operations as we move forward in these challenging times. We are confident that Ray will make a significant contribution to the Company's continued success."

In confirming his appointment, Mr. Chadwick commented: "I am looking forward with great anticipation to the challenges of my new role with Young's. I have long admired Young's Market Company as one of the premiere distributors of wine and spirits in the U.S., and I am thrilled to be part of their executive team. The current economic environment poses very difficult challenges for the beverage alcohol industry in general, and for the wine industry in particular, and I am excited to meet those challenges head on."