Mondavi hands over control

Published: 23 July, 2008

88 year old founder to step down

Robert G. Mondavi, has said he will now take on the role of "ambassador-at-large," while turning over company operations his sons Michael and Tim Mondavi and a new chief executive, Gregory Evans. "My sons, Michael and Tim, have taken my dream and built upon it, adding their own unique talents, expertise and vision to make this company one of the most successful and respected wine producers in the world," Mondavi said in a statement. Company spokeswoman Nancy Light said the changes announced Tuesday 1 May, which included the appointment of Michael Mondavi as new board chairman and Tim as vice chairman, "formalized changes that had been underway for some time." Mondavi's sons were appointed co-CEO's in 1990, and the company went public in 1993, although the family continues to own most of the shares. In 1994 Michael was named the sole CEO. Evans is a 20-year veteran of the company who has served as Mondavi's chief operating officer since 1998 and is know to both to the family and to investors.

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