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Naked Wines CFO to step down as company agrees new credit facility

Naked Wines has said its chief financial officer is to step down as it announced that it had secured a new $60 million credit facility. With… View Article

FOOD AND DRINK NEWS UK

Naked Wines CFO to step down as company agrees new credit facility

Naked Wines has said its chief financial officer is to step down as it announced that it had secured a new $60 million credit facility.

With a term of five years and secured against global wine assets, the new facility with PNC Bank replaces the company’s previous agreement with Silicon Valley Bank.

Rodrigo Maza, chief executive of Naked Wines, said: “The new facility proves the strength of the Naked’s balance sheet and business outlook while reinforcing our liquidity and ability to invest in bringing the best wines to our customers. 

“We look forward to working closely with PNC and continuing to support independent winemakers around the world.”

In a separate statement, Naked Wines said that its chief financial officer James Crawford has informed the board of his intention to step down this autumn. The timing is consistent with the two-to-three-year incentive arrangement agreed with Crawford when he rejoined the board as chief financial officer in 2022.

Naked Wines said a recruitment process for his successor is well underway.

Maza said: “James has made an outstanding contribution to the business and has been instrumental in setting the platform for success we now have. His counsel and experience will be missed. I wish him the very best for the future.”

 

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