The Treasury Wine Estates Ltd (ASX: TWE) share price is marching higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) global wine company closed yesterday trading for $12.08. In early afternoon trade on Wednesday, shares are changing hands for $12.26 apiece, up 1.5%.
That handily beats the 0.1% loss posted by the ASX 200 at this same time.
As you can see on the chart above, the Treasury Wine share price has been a strong performer in 2024, up around 14%. That compares to a roughly 2% gain delivered by the benchmark index year to date.
This outperformance is in part fuelled by investor enthusiasm over the reopening of Chinese markets to Aussie wine imports. Australian wine joined a host of other commodities on China's naughty list in 2020 after the Aussie government called for an investigation into the origins of the Covid virus.
Treasury Wine stock also trades on a partly franked trailing dividend yield of 2.8%.
Here's why the stock looks to be beating the ASX 200 again today.
Image source: Getty Images
Treasury Wine share price lifts amid key board appointment
Investors may be bidding up the Treasury Wine share price after the company announced the appointment of Leslie Frank as non-executive director of the board.
The appointment could be stirring investor interest as Frank brings some strong credentials to the table.
Among these, she founded the luxury wine business Frank Family Vineyards, located in the Napa Valley in the US state of California. Treasury Wine acquired the business in 2021.
Frank is also an Emmy Award-winning journalist. According to the release, she's worked in major US television markets, including reporting and anchoring at the number one-rated KABC in Los Angeles and KCPQ in Seattle.
That's the kind of exposure that could prove a boon for future marketing activities.
Commenting on the appointment that appears to be helping the Treasury Wine share price beat the ASX 200 today, chairman John Mullen said, "I am delighted to welcome Leslie Frank to the board."
Mullen continued:
Since founding Frank Family Vineyards in 1992, Leslie's innovative and entrepreneurial approach to luxury brand building, coupled with her expertise in digital marketing, design and hospitality, resulted in the creation of the truly outstanding luxury business that it is today.
Her in-depth knowledge of the US wine industry, luxury brand and consumer engagement insights, and deep relationships within the Napa Valley make her the ideal candidate for the Treasury Wine Estates board.
Frank's appointment will be effective from 1 July.
Management noted this remains dependent on approvals from a number of Australian state-based liquor licensing authorities.
