Four Pillars Gin founder Stuart Gregor to replace Satya Sharma as CEO of Lark Distilling

Whisky producer Lark Distilling Co. (ASX: LRK) has appointed Four Pillars Gin co-founder Stuart Gregor as its new CEO, replacing Satya (Sash) Sharma who is stepping down at the end of this year to join an undisclosed “major spirits industry player”.

Sharma is exiting the Hobart-based Lark after three years as CEO during a challenging time for the company which has not posted a bottom-line profit since FY21.

Gregor, who has been a non-executive director of Lark since 2024, is stepping in as CEO and managing director with the company noting he has “an intimate understanding and knowledge of the business”.

Lark says Gregor brings a wealth of industry knowledge with over 25 years of experience spanning brand creation, premium drinks marketing and international expansion and entrepreneurial expertise.

Gregor co-founded Four Pillars Gin in 2013, growing it from a small craft operation into a globally brand before being sold to drinks giant Lion in 2023.

Lion, which already owned a 50 per cent interest in Four Pillars Gin, acquired the remaining interest for a reported $50 million.

"We are excited to have Stuart join as Lark's next MD and CEO,” says Lark chairman Domenic Panaccio.

“Stuart already has a deep understanding of Lark through his role on our board and has been intimately involved in the re-stage of our brand as we embark on our exciting next chapter.

“Today's announcement reflects our strong focus on effective succession planning, ensuring a smooth and orderly transition that positions Lark for continued success in its next phase of growth.”

Lark, which describes itself as Australia's number one luxury single malt whisky producer and brand, lifted revenue by 2.6 per cent to $17.1 million in FY25.

However, the company posted a bottom-line loss of $11.3 million and a statutory EBITDA loss of $5.9 million – up from a $4.1 million loss a year earlier - as the company’s business was impacted by a weaker domestic B2B market and lower hospitality revenue.

When releasing its latest results in August, the company said a restage of the brand in FY25 was a strategic priority that will start to reap dividends in the current financial year.

Panaccio notes that during Sharma’s tenure, Lark delivered “consistent and sustainable results” and expanded into key international markets.

He says the CEO also strengthened the company’s portfolio offering, fortified its balance sheet via a $22.5 million capital raise in July last year and established an operational platform “designed to deliver sustainable long-term value”.

Lark sees Gregor as pivotal in driving future growth which will be aided by a partnership forged in 2024 with Spirits Platform to become the exclusive domestic distributor for Lark whisky and Forty Spotted Gin.

"Stuart combines deep category knowledge, proven entrepreneurial credentials, and global perspective with an unrivalled passion for Australian spirits,” says Panaccio.

“His leadership will accelerate Lark's ambition to be recognised as a leader in new world whisky, while continuing to build on the exceptional legacy created under Sash's stewardship.”