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Independent Director Change
5 July 2007
Independent Director Change
PPCS Independent Director Ian Farrant has announced his retirement from the Board of PPCS Limited with immediate effect. Mr Farrant was appointed as an independent director in July 2004.
Chairman Reese Hart said PPCS had greatly benefited from Mr Farrant’s knowledge and expertise over the past three years and with his prior involvement with PPCS in the 1980s. Mr Farrant had earlier indicated to the Board his intention to step down this year, as part of his ongoing retirement process.
Mr Hart thanked Ian Farrant for his significant input to the company during an important growth phase. Mr Farrant will continue in a consulting role for a period of time on various strategic initiatives the company is undertaking.
As a result of Mr Farrant’s retirement, the Board has appointed company director and business consultant Bill Luff as an independent director. Mr Luff will also sit on the Board’s Audit Committee.
Mr Luff holds directorships of several companies including Network Tasman Limited, the Lyttelton Port Company, Syft Technologies Limited (Chair) and Waimea Nurseries Limited (Chair).
Mr Luff has extensive strategic and international company experience including a 17-year career with British Petroleum (BP) in Melbourne, Wellington and London. He was latterly Head of Strategy, Planning and Control for BP’s global refining and marketing operations and in this capacity was a member of the senior management team of the BP Group.
On returning to New Zealand, Mr Luff was Chief Executive Officer of electricity lines company Tasman Energy from 1997 to 1999. He is currently acting CEO (until 1 September 2007) of Christchurch City Networks Limited, a subsidiary company of Christchurch City Holdings Limited.
In welcoming Mr Luff to the Board, Mr Hart said: “Mr Luff possesses significant business acumen and multinational experience which will add further strength to the co-operative. The Board and I look forward to working with him."
PPCS is a 100 percent farmer-owned co-operative. Its Board currently comprises nine elected supplier directors and two Board-appointed independent directors.
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