Story perspectives

Constellation Brands CEO Resigns Amid Declining Wine Sales

4/16/2026

Summary

Story summary

Constellation Brands warns the high-end wine market is declining due to category pressures and changing consumer behavior.
CEO Bill Newlands of Constellation Brands stepped down, and Chief Financial Officer Garth Hankinson says high-end wine sales shifted from growth to slight declines.
Local wineries struggle, with some owners selling to larger companies or closing.
Constellation also reports momentum in its beer segment and plans to reopen Robert Mondavi Winery after renovations.

1 of 1

Story summary

Constellation Brands warns the high-end wine market is declining due to category pressures and changing consumer behavior.
CEO Bill Newlands of Constellation Brands stepped down, and Chief Financial Officer Garth Hankinson says high-end wine sales shifted from growth to slight declines.
Local wineries struggle, with some owners selling to larger companies or closing.
Constellation also reports momentum in its beer segment and plans to reopen Robert Mondavi Winery after renovations.