PGG Wrightson chairman stands down
Sir John Anderson is stepping down as chairman of the board of leading rural services firm PGG Wrightson.
Anderson , a distinguished banker and businessman, will retire from the board after the annual meeting on October 22.
A new chairman will be appointed after the meeting.
He was appointed in February 2010 to help sort out "legacy" issues at the company after the 2005 merger which formed the business.
The company, just over half Chinese-owned, said the highlights of his time in the chair include the sale of the company's finance company, PGG Wrightson Finance, in 2011 to Heartland Bank, a refocusing of the company on its core operating businesses, repayment of core debt and a resumption of dividends.
Anderson said when he joined the board his focus was on establishing good governance and addressing the legacy issues faced by the company.
"When I came to the chair in 2010 the business was dealing with the after-effects of both the 2005 merger which formed the business and the global financial crisis. In the last 3-1/2 years we've overseen work to stabilise the foundations of the business.
"We've fixed the balance sheet and invested in the operating systems, staff and infrastructure of the business. The business is now ready for its next phase of development and I think it's time for someone else to lead the board through this."
Chief executive, Mark Dewdney praised the contribution Anderson had made to the company.
"Sir John is one of New Zealand's most distinguished business leaders as illustrated by his induction into the Business Hall of Fame earlier in the year.
"The leadership he has brought to the board table has clearly been a tremendous asset to the business over the last few years," Dewdney said.
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