Majestic Wine boss quits after six years

Steve Lewis, the boss of specialist wine retailer Majestic Wine, has stepped down after six years in his role.

The company, the biggest of its kind in Britain, reported a drastic slowdown over the Christmas season, as sales were hit by supermarkets’ decision to slash prices, which saw Tesco sell champagne for as little as £8 a bottle.

“The business is entering a busy and exciting next phase and now is the right time to hand over to a new leader, ” said Lewis, who worked for the group for 29 years, 16 of which on the board.

Lewis, who took charge of the company in the wake of the 2008 financial crisis, was described as the man who “successfully steered the business through very difficult times” by the group chairman, Phil Wrigley.

“He leaves the business today in good shape, with sales up 41% and profit up 42% during his time as chief executive, and with the business well positioned for the next phase of its development,” said Wrigley.

On Thursday, the wine retailer said Nigel Alldritt, its finance director, will step in until a replacement is found.

Majestic Wine shares were up 5.15% to 347.00p at 10:37 on Thursday.