Crimson Wine Group Names Wine Industry Executive Annette Alvarez-Peters to Board of Directors

Rhea-AI Summary

Crimson Wine Group (OTCQB: CWGL) has appointed Annette Alvarez-Peters to its board of directors, replacing Craig Williams, who is retiring immediately. Alvarez-Peters is an industry veteran with over 37 years at Costco, including leadership roles in the Beverage Alcohol Department. She is recognized for her expertise and holds multiple prestigious certifications. The board is optimistic about the fresh insights Alvarez-Peters will bring, while expressing gratitude to Williams for his contributions. This leadership change is expected to guide the company towards enhanced strategic direction.

Positive

• Appointment of Annette Alvarez-Peters brings extensive industry experience.
• Alvarez-Peters' previous leadership role at Costco may enhance company strategy.
• Board expresses optimism for new perspectives and contributions.

Negative

• Craig Williams' retirement could impact continuity in leadership experience.

NAPA, Calif., May 06, 2021 (GLOBE NEWSWIRE) -- Crimson Wine Group, Ltd. (OTCQB: CWGL) today announced that Annette Alvarez-Peters has been appointed to the company’s board of directors, succeeding Craig Williams, who is retiring from the Crimson board, effective immediately.

Alvarez-Peters brings to Crimson extensive managerial and merchandising experience in the wine and spirits business. She is the founder of annette a.p. Wine & Spirit Inc., a consultancy focused on business development and merchandising for the wine and spirits industry. Alvarez-Peters previously held a 37-year career with Costco Wholesale, including 25 years in the Beverage Alcohol Department, retiring as Assistant Vice President and General Merchandise Manager.

A top leader in the industry, Alvarez-Peters has been recognized by M. Shanken Communications, publisher of Wine Spectator; Wine Business Monthly; Decanter; and Wine Enthusiast. She holds the Diploma Certification from Wine & Spirits Education Trust and the Certified Wine Educator designation from Society of Wine Educators.

“We are delighted that Annette has joined our board and look forward to valuable new perspectives she will bring to Crimson,” John D. Cumming, Chairman, said. “On behalf of the entire board and management team, I also wish to acknowledge and thank Craig Williams, who will remain available to us on as as-needed consulting basis, for the many contributions he has made to our company.”

About Crimson Wine Group

Based in the Napa Valley, Crimson Wine Group crafts benchmark wines from exceptional vineyards in premier wine-growing regions throughout the United States. The company owns and manages approximately 1,000 acres of vineyard land across six distinct regions, along with a diverse collection of exceptional domestic estates and wine brands, including Pine Ridge Vineyards (Napa, Calif.), Seghesio Family Vineyards (Healdsburg, Calif.), Archery Summit (Dayton, Ore.), Chamisal Vineyards (San Luis Obispo, Calif.), Double Canyon (West Richland, Wash.), Seven Hills Winery (Walla Walla, Wash.) and Malene Wines (Santa Luis Obispo, Calif.) For more information, please visit www.CrimsonWineGroup.com.

For More Information, Contact:

Crimson Wine Group
Tina Hilger
707.260.0910
tinah@crimsonwinegroup.com

PondelWilkinson Inc.
Roger Pondel
310.279.5965
rpondel@pondel.com

FAQ

Who is Annette Alvarez-Peters and what is her role in Crimson Wine Group?

Annette Alvarez-Peters is the newly appointed board member of Crimson Wine Group, bringing extensive experience from her 37-year career at Costco, where she was a leader in the Beverage Alcohol Department.

What is the significance of the leadership change at Crimson Wine Group?

The leadership change signifies a fresh strategic direction for Crimson Wine Group, with the potential for enhanced insights and industry connections through Annette Alvarez-Peters' appointment.

What impact might Annette Alvarez-Peters have on Crimson Wine Group's future?

Alvarez-Peters may influence Crimson's strategic decisions and enhance business development initiatives due to her extensive background in the wine and spirits industry.

What can investors expect after the board changes at CWGL?

Investors can expect a potential shift in strategic approach with new insights from Alvarez-Peters, which could positively influence company performance and market positioning.