01 November 2021

Chief Executive recruitment update

Update for shareholders on the recruitment for a new Chief Executive, with Wayne McNee due to step down from the role on 30 November 2021.

MARKET STATEMENT

Chairman Murray King says the current restrictions imposed by Covid-19 have made this process more protracted than expected so an acting appointment is being made in the interim.

“The Board has made good progress with the recruitment and we have been impressed by a number of high calibre applicants, however Covid-19 restrictions have impeded our ability to complete this process so as an interim measure we are appointing David Hazlehurst in an acting capacity.”

David Hazelhurst small

David is currently the farmer-owned co-operative’s Chief Financial Officer. He joined LIC in 2019. Prior to that he was Chief Financial Officer for Zespri (2015-2019) and held various senior finance management roles with NZ Steel, Lion Nathan, Oxygen Business Solutions and Fonterra (in NZ and Germany).

David will move into the Acting role on 1 December 2021 until a permanent appointment is made.

“Appointing a Chief Executive is one of the most important jobs of a Board so we will take the time to get it right. We know the co-op will be in good hands with David in the meantime and the Board is grateful he has agreed to assist when Wayne’s time at LIC comes to an end later this month.

“We wish Wayne all the very best with his future endeavours. The last eight years with Wayne have been a big eight years for LIC. He has led the business through a period of significant growth and transformation, and he leaves the co-op in good shape.”