Duckhorn CEO Alex Ryan retires; board appoints Deirdre Mahlan as interim CEO

Duckhorn Portfolio, Inc.

Alex Ryan retires as President, CEO, and Chairman effective Sept 27, 2023; receives $1,015,714 bonus and forfeits unvested equity.
Board appoints Deirdre Mahlan, former Diageo North America President and current board member, as Interim CEO and Chairperson.
Mahlan receives annual consulting fee of $655,000, 100% bonus target, and $1.35M in RSUs vesting over 12 months.
Board forms ad hoc committee to search for a permanent CEO; independent director Michelle Gloeckler chairs committee.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed (interim)

Deirdre Mahlan

Interim President, Chief Executive Officer and chairperson

Duckhorn Portfolio, Inc.

Effective: 2023-09-27
Filed: September 27, 2023, 7:59 PM ET

On September 27, 2023, the Board appointed Deirdre Mahlan, currently a director of the Company and chair of the Audit Committee of the Board (the “Audit Committee”), as Interim President, Chief Executive Officer and chairperson of the Board, effective immediately upon Mr. Ryan’s retirement.

Departed

Alex Ryan

President, Chief Executive Officer and chairperson

Duckhorn Portfolio, Inc.

Effective: 2023-09-27
Successor: Deirdre Mahlan
Filed: September 27, 2023, 7:59 PM ET

On September 24, 2023, Alex Ryan notified The Duckhorn Portfolio, Inc. (the “Company”) of his intention to retire from his positions as President, Chief Executive Officer and chairperson and member of the Board of Directors (the “Board”) of the Company, effective September 27, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Deirdre Mahlan was appointed as Interim President, Chief Executive Officer and chairperson at Duckhorn Portfolio, Inc..

Action: appointed
Role: Interim President, Chief Executive Officer and chairperson

Exact text from the filing

On September 27, 2023, the Board appointed Deirdre Mahlan, currently a director of the Company and chair of the Audit Committee of the Board (the “Audit Committee”), as Interim President, Chief Executive Officer and chairperson of the Board, effective immediately upon Mr. Ryan’s retirement.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Alex Ryan retired as President, Chief Executive Officer and chairperson at Duckhorn Portfolio, Inc..

Action: retired
Role: President, Chief Executive Officer and chairperson

Exact text from the filing

On September 24, 2023, Alex Ryan notified The Duckhorn Portfolio, Inc. (the “Company”) of his intention to retire from his positions as President, Chief Executive Officer and chairperson and member of the Board of Directors (the “Board”) of the Company, effective September 27, 2023.

View on SEC.gov

Source: SEC EDGAR

accession 0001835256-23-000039

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