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McGuigan retires

Published:  23 July, 2008

Brian McGuigan, one of the best-known figures in the Australian wine industry, is stepping down from the helm of the company he founded, McGuigan Simeon.

Speaking at the company's AGM, he said: I intend to stay involved with the company.

I love the industry and the company. It bears my name, and I believe in what we can do in the future.'

McGuigan, 63, has been in the wine industry for 45 years and launched Brian McGuigan Wines in 1992. It merged with bulk wine specialist Simeon Wines in 2002 and bought Miranda Wines the following year. Traditionally strong in BOBs and bulk wines, it has been expanding its branded-wine portfolio in recent years.

The company also released a profit warning, predicting net profit for the six months to December to be around A$6 million to A$8 million, down from A$12.4m in the same period last year.