LIC Chair Murray King said that through a significant business transformation Wayne McNee has contributed to sustained growth and development of the business.

“From his appointment as Chief Executive in 2013 Wayne has led the organisation through a period of significant growth and development across all areas of the business while delivering strong shareholder returns,” said Mr King.

“Over the past year, Wayne and his leadership team led LIC through the challenges of COVID-19 and the co-op is on track to deliver record results for the fourth consecutive year.

“The Board would like to thank Wayne for his work for both LIC and his contribution to the wider food and fibre sector, having served on the board of Safer Farms and in his current role on the advisory board of the Sustainable Business Council.”

Mr McNee said he is proud of what LIC has achieved over the past 8 years, in particular the transformation of the business into a modern progressive co-operative, with significant improvements to the way LIC operates, major investment in digital capability and delivery, and working closely with the Board to implement a share structure that is fit for purpose.

“I am proud to be leaving LIC in great shape for the future, which is critical given its role as the DNA of the New Zealand Dairy Sector. LIC is a unique agri-technology company which adds huge value to the New Zealand economy, and is increasingly playing a role helping farmers deal with the environmental challenges they face,” Wayne McNee said.

Murray King says the Board will commence a search for a replacement immediately and expects a good talent pool of both internal and external candidates.