Dee quits Paragon in clash over future
Paragon Vintners chairman and managing director Tony Dee has made a surprise exit from the company he founded 18 years ago after a clash over the direction of the business with owner CL Financial.
Dee is thought to have favoured an expansion
involving the possible acquistion of, or alliance with, another
distributor. He said there had been "a difference of opinion as to the future direction and strategy for the company".
He added: " In these circumstances it is unheard of for the owner of a business to depart , therefore I cannot remain as head of a company whose future direction I cannot agree with."
Paragon began as a joint venture between Baron Philippe de Rothschild and Veuve Clicquot Ponsardin and was bought by Paragon in 2004. At the time Dee said CL was "absolutely committed to the expansion of wine products at Paragon", adding: "We intend to build a strong agency business which will complement Paragon's current agency porfolio as well as the brands owned within CL Financial."