Comvita has appointed Adrian Barr as interim finance chief of the New Zealand-based Manuka honey maker, effective from 2 March.
Barr will replace Julianne Keast, who the Wellington-listed firm revealed in January had resigned as acting chief financial officer, a position she held since 2017. A search is under way for a permanent replacement.
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The company has also recently brought in a new chief executive, David Banfield, following a business review launched last June, which Comvita said would involve looking at “under-performing assets of the business, as well as structural, balance sheet, leadership and organisation considerations“. Banfield started as CEO on 20 January.
Comvita had also been the subject of a failed takeover offer in 2018.
Last month, Comvita announced the outcome of the review, which included divisional appointments across the company’s geographical business units.
It said in a statement at the time: “The strategic review identified that Comvita had to refocus in order to drive long-term, sustainable value. There is now operational separation between supply and demand (brand), each with a clear proposition for the creation of commercial value.”
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By GlobalDataIn a separate statement today (25 February), the company said incoming CFO Barr “was retained by Comvita in September 2019 to lead a strategic review of Comvita’s supply chain and financial planning functions”.
Previously, he was chief operating officer for The True Honey Co. and was CEO for Simply Squeezed between 2009 and 2014. He has also served as general manager for Invacare NZ and held various senior positions at Mainland Products.
Banfield said: “We are delighted to secure someone of Adrian’s calibre as interim CFO for Comvita while we search for a permanent appointment. Adrian brings a wealth of finance, FMCG and manufacturing experience, and I look forward to the valuable contribution he will make towards our strategy and performance.”
