Roadley Announces Global Dairy Company Board

Tuesday, 13 February 2001, 10:25 am
Press Release: Dairy Merger Package

Monday 12 February 2001

John Roadley, chairman-designate of Global Dairy Company, has formally announced his board. It will meet for the first time on Wednesday.

The shape of the initial board was outlined in Section Four of the Merger Agreement posted to all shareholders prior to Christmas.

It provides for Mr Roadley, from the New Zealand Dairy Group, and Greg Gent, from Kiwi Dairies, to be chairman and deputy chairman, and for both companies to appoint an additional four directors each. The full board is then able to appoint a further three directors, subject to it identifying suitable candidates.

Mr Roadley confirmed that the four additional directors appointed by the New Zealand Dairy Group would be Henry van der Heyden, Murray Flett, Earl Rattray and Mark Townshend.

He confirmed that the four additional directors appointed by Kiwi Dairies would be Richard Booth, Harry Bayliss, Marise James and Gerard Lynch.

He said it would be up to the new board to decide whether to take up the opportunity to appoint the three other directors.

Mr Roadley said the board knew that shareholders would monitor its performance closely and that all directors welcomed that scrutiny.

“We are responsible for helping achieve the most important commercial deal in New Zealand’s history and we hope to be responsible for significantly growing New Zealand’s largest and most important company,” he said. “We feel that responsibility but at the same time I have confidence this board is up to the task.”

END

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