Heat olive oil in large dutch oven over medium-high heat. Sprinkle roast with salt and pepper. Add roast to pan; cook 5 minutes, turning to brown on all sides. Remove roast from pan. Add onion to pan; cook 8 minutes or until tender.
Return browned roast to pan. Add the red wine, thyme, beef broth, bay leaf, beef base to pan and bring to a simmer. Cover pan and bake for 1 1/2 hours or until roast is almost tender.
Add vegetables to pan. Cover and bake an additional hour or until vegetables are tender. Remove bay leaf from pan and discard. Shred meat with 2 forks. Serve roast with vegetables and cooking liquid.