US-based winery Far Niente Wine Estates has confirmed the retirement of its CEO Steve Spadarotto, who has led the company since 2018.
Carol Reber, a board member with over 25 years of experience in the luxury wine industry, has been appointed interim CEO.
Go deeper with GlobalData
Far Niente is looking to hire a permanent CEO, Reber told Just Drinks.
The Californian winery is jointly owned by Apax Partners and GI Partners, who are equal partners, though they are not 50-50 owners, she said.
San Francisco-based investment firm GI Partners took a stake in Far Niente Wine Estates in 2016.
Commenting on Spadarotto’s leadership, the winery said he had “helped to guide Far Niente through an exceptional period of financial growth and new product innovation”.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataHis contributions included the launch of Post & Beam Cabernet and Sauvignon Blanc wines in 2020 and the renovation and opening of Bella Union Winery in Rutherford last year, the winery said.
“As a result of these initiatives and others, in 2024 Far Niente’s wine portfolio achieved its highest-ever critical acclaim and consumer demand, including double-digit depletion growth in what was one of the most challenging years in the wine industry’s history,” Far Niente said in a statement.
Commenting on the latest development, GI Partners Rick Magnuson founder and executive managing director said: “We thank Steve for leading Far Niente to become one of North America’s most dynamic and successful luxury wine companies during his tenure.
“I have worked with Carol for over a decade and have been impressed firsthand by her industry acumen and leadership capabilities as both an executive and a Board member. We look forward to seeing her usher in the next era of progress.”
Reber, who has been a member of Far Niente’s board of directors for two years, brings extensive experience in the industry.
Before joining the wine sector, she held positions at a number of companies, including wine heavyweights Gallo, Treasury Wine Estates and The Duckhorn Portfolio.
Far Niente Wine Estates, founded in 1885, has more than 400 acres of vineyards across Napa and Russian River Valley.
Its wineries include Far Niente Winery, Nickel & Nickel, Bella Union, Post & Beam, EnRoute, and Dolce.
Far Niente Wine Estates’ wines are primarily sold across nearly 20,000 accounts in the US. The company also does business in Korea, and Canada, among other countries.
The business does not disclose sales figures, said Reber, but noted that in 2024, “our robust wholesale business depletions were up double digits and our thriving DTC business grew modestly bolstered by our stunning new tasting room Bella Union on Hwy 29.”
