At the time of publishing, Accolade Wines nor parent company Champ Private Equity had communicated the reason for the split, saying only it was by mutual agreement.

John Haddock, managing director at Champ, said: “Troy has performed a very valuable role in the first phase of the Champ III  Fund’s ownership and we wish him well in his future endeavours. He will be engaged to assist the board with the transition to a new CEO.

“Troy’s departure does not single any fundamental change in strategy. We will be looking for a new leader to drive the execution of the board’s strategies, focusing on customers, increased profitability in established markets and growth in new markets.”

Christensen had been in his position since early 2011 when Champ purchased Constellation Brands. In June 2011 Constellation Australia and Europe officially became Accolade Wines.

Accolade Wines, which owns brands such as Hardys, Stowells and Echo Falls, operates in 80 countries worldwide including Australia, the UK, mainland Europe, the US, Canada, Japan and China.