The Duckhorn Portfolio Appoints Interim CEO and Industry Veteran Deirdre Mahlan as President and Chief Executive Officer

The Duckhorn Portfolio, Inc. (NYSE: NAPA) (the “Company”) today announced that Deirdre Mahlan has been appointed President, Chief Executive Officer and Chairperson, effective immediately. Mahlan has been a member of The Duckhorn Portfolio, Inc. Board of Directors since March 2021. For the past six months, she has served as interim President, Chief Executive Officer and Chairperson, during which time the Board conducted an internal and external leadership search and determined that Mahlan is best positioned to lead the Company forward.

“We are thrilled Deirdre will serve as our permanent President, CEO and Chairperson, and look forward to continuing to partner with her to deliver on the vision she has for The Duckhorn Portfolio,” said Michelle Gloekler, The Duckhorn Portfolio’s lead independent director and chair of the CEO search committee. “Her industry track record and performance both on our Board and as interim CEO make it clear that Deirdre is the ideal leader to spearhead the Company’s next phase of growth.”

Mahlan brings over 30 years of alcohol and beverage industry experience and an extensive track record of operational and financial leadership. Previously, she spent 20 years at Diageo, most recently serving as President of Diageo North America. Prior to that, Mahlan held positions of increasing responsibility in finance, including five years as CFO of Diageo plc. Earlier in her career, Mahlan spent three years at Joseph E. Seagram & Sons and eight years at PricewaterhouseCoopers Limited. Mahlan also serves on the boards of Kimberly-Clark Corporation, a consumer goods company, and Haleon plc, a healthcare goods company.

“Despite the external headwinds facing our industry, I have strong conviction that the Company is well-positioned to leverage our industry leadership, talented teams and extensive partnerships to remain at the forefront of the luxury wine category,” said Mahlan. “My years of experience with the Company, both as interim CEO and as a member of the Board since 2021, give me valuable perspective on the incredible opportunity in front of us. I’m honored the Board has entrusted me to lead The Duckhorn Portfolio at this important time.”

Mahlan added, “My key priorities in the immediate term will be ensuring the successful integration of Sonoma-Cutrer and advancing our route-to-consumer action plan, among other priorities. As I work with The Duckhorn Portfolio team to lead the Company’s next chapter, we will be focused on driving consistent, profitable growth and creating meaningful value for all our stakeholders.”