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Goodman Fielder Announces New NZ Managing Director

MEDIA RELEASE

Goodman Fielder Announces Business Integration And Appointment Of New Zealand Managing Director

17 October 2010

Goodman Fielder Limited announced today that it had commenced the integration the company's three retail-focused businesses in New Zealand and that local businessman Peter Reidie had been appointed to the newly created position of Managing Director Goodman Fielder New Zealand, leading the company's circa $1.0 billion NZ retail division.

The company had previously announced that it was reviewing its Baking, Dairy and Home Ingredients businesses in New Zealand to determine if there was a more efficient and effective model that leveraged the company's size in the market into a scale opportunity.

The company has now concluded that the integration of the three businesses will improve interaction with key customers, suppliers and other stakes holders in New Zealand, while at the same time creating significant opportunities to reduce operating costs.

"We are one of the biggest suppliers to the retail grocery trade in New Zealand and yet we have been operating as three semi-independent companies," Goodman Fielder's CEO Mr Chris Delaney said. "This makes it hard for our customers and suppliers to do business with us, and it also means that we have not been able to use our scale to drive efficiencies. This new integrated structure will allow us to bring the considerable capabilities of Goodman Fielder to the marketplace and to service our consumers and customers more effectively.

"I am very pleased to announce that Peter Reidie has accepted the role of Managing Director, Goodman Fielder New Zealand. He has led our Dairy and Meats division with distinction over the past three years and, as he was born, raised and educated in New Zealand, he is ideally equipped for this new role," Mr Delaney said.

Peter Reidie was previously Managing Director of the company's Dairy and Meats division in New Zealand and has extensive experience in the food sector in Australia, New Zealand and the United States. Prior to Goodman Fielder he managed the fresh bakery and frozen baked products business with Pepperidge Farm in the US, part of the Campbell Soup Company. Also with Campbell's he was General Manager Snackfoods at Arnotts in Australia, and General Manager Campbell Soup Co Australasia. Previous responsibilities have also included senior marketing and business development roles with Lion Nathan.

He has a Bachelor of Arts (Hons) degree in Economics from the University of Otago in New Zealand and was born and brought up in Southland.

He is married to Lisa and has twin sons, Mark and John.

ends

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