Another one jumping ship

Michael Mondavi has seen the writing on the wall. At this rate, how long will it be before there is no Mondavi left at Mondavi. I guess it doesn't really matter either way since most people still think the old man is out pruning the vines. I have to say that I totally agree with Micheal's observation:

In his resignation letter, submitted by e-mail to company chairman Ted Hall, Mondavi wrote: "I fundamentally disagree with the current strategy adopted by the board of directors concerning the future direction of the company. … Because I strongly believe that the [plan to focus on inexpensive wines] is contrary to the best interests of the company and all of its shareholders, I do not feel comfortable serving on the company's board of directors at this time."

Unfortunately, this is the sort of thing that happens when you have your eye on the prize and become a publicly traded corporation. I find this move quite surprising and in a way, an admission on the part of the shareholders. The implication is that either they know something that I don't - there's no future in wine over $20, or they simply don't care about the relationship between product and public perception.

Maybe they can rehash a theme from Litte Caesar's. Put the old man in a toga, slap a wreath on his head and start the old 'buy the first bottle, get the second bottle free'.