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Sir Wilson Whineray announces intended retirement

Sir Wilson Whineray announces intended retirement from Carter Holt Harvey Board of Directors

Sir Wilson Whineray announced today that he will not stand for re-election at the Carter Holt Harvey 2003 Annual Meeting of Shareholders to be held in April. Sir Wilson has had a 34-year association with the company as an employee and Board member. After ten years asChairman of the Board, Sir Wilson feels it is time to stand aside.

Peter Springford, CEO for Carter Holt Harvey said Sir Wilson’s leadership would be greatly missed.

“Sir Wilson’s commitment to the success of Carter Holt Harvey, his astute stewardship of the Board and his concern to equably represent all Carter Holt Harvey’s shareholders makes his decision a very sad one for the company.”

After an early career in agriculture and the completion of a B.Com, Wilson left New Zealand for the United States on a Harkness Fellowship in order to undertake an MBA programme at Harvard Business School. On his return he joined Alex Harvey Industries (AHI) in 1969. He was Director of Operations for AHI when it merged with Carter Holt in 1985, and continued in that role.

In 1987 he became Deputy Managing Director of Carter Holt Harvey and joined the Board of Directors in 1989. He retired from management in mid-1993 and was elected Chairman of Board in August of that year.

John Maasland was elected by the Carter Holt Harvey Board of Directors today to succeed Sir Wilson as its Chairman - effective with Sir Wilson’s retirement at the end of April.

“We’re pleased to be able to appoint someone of John’s calibre to the role of Chairman from within the Board,” said Sir Wilson Whineray. “Carter Holt Harvey has a culture of honesty and integrity at its heart and I know that John will ensure that the highest standards of governance continue to be upheld.”

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