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Better than expected return

Better than expected return

Rotorua-based Crown Research Institute, Forest Research announced a better than expected return in the last financial year, despite disruptions caused by restructuring, business planning and new strategy implementation.

The science company is pioneering a new generation of technologies to create materials from industrial crops and waste streams. The past year has seen this vision officially launched to external stakeholders.

This bold strategic direction requires a significant refocusing of scientific resources to meet a growing global demand for renewable bio-based materials. Since wood is the largest biomaterial of all, this new strategy builds on Forest Research’s traditional expertise in growing plantation timber and processing it into useful products.

Internally, the organisation has consolidated the new vision with a concerted effort into fostering a more open style of leadership at all levels. This approach has helped to encourage greater energy, sharing of knowledge and problem solving.

Chief Executive, Bryce Heard, says the new strategic direction has helped to rejuvenate the organisation and give it a sense of purpose. “When the CRIs were set up in 1992, the New Zealand science community was introduced to an unfamiliar environment. Early behaviours were overly competitive, amidst high levels of distrust. From this period of change a new maturity of behaviour is emerging. Forest Research seeks to be a leader in this process.”

ENDS

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