NZ's a2 Milk says David Hearn to retire as chairman in late 2023 (updated)

Fisher & Paykel Healthcare

17/11/2022 20:12

(Recasts for details on retirement, succession and chair
comments)
       Nov 18 (Reuters) - New Zealand's a2 Milk Co Ltd  ATM.NZ 
said on Friday chairman David Hearn will be stepping down from
the dairy major's board during its next annual general meeting
in November 2023.
    Since Hearn became the chairman on March 30, 2015, a2 Milk's
stock price has jumped more than 1,200%, as of last close, a
period which also saw its revenue grow 832%. 
    Hearn has served the company since February 2014 and will be
reaching the end of his term late next year, the dairy products
maker added. 
    The board has come to the unanimous conclusion Pip
Greenwood, who is a non-executive director at the company, "has
both the skills and importantly the experience to take over from
David Hearn at that time," a2 Milk said. 
    Greenwood, who is also a director on the boards of companies
such as Westpac New Zealand, Spark New Zealand  SPK.NZ , Fisher
& Paykel Healthcare  FPH.NZ  and Vulcan Steel  VSL.NZ , joined
the dairy firm over three years ago. 
    Greenwood, also served as acting chairman and interim Chief
Executive Officer at law firm Russell McVeagh where she spent
over 10 years, according to the company's official website.
    Commenting on his retirement, Hearn said, "Whilst I
recognize that we have had some turbulent times recently, it is
an extraordinary experience to play a part in the development of
this amazing business."
 (Reporting by Roushni Nair in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Roushni.Nair@thomsonreuters.com;))