Dean Witters, the founder of New Zealand processed foods group Cedenco Foods, has handed in his resignation.
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The company has accepted Witters’ resignation as executive director and a consultant on new projects. Witters said he would now focus on developing his Gisborne property interests and the Waiohika Winery.
Witters founded Cedenco in 1985 as a tomato paste plant, and said that it was his ideas for growth that led him to quit last week. He is reported in Stuff as saying that he was disappointed the Cedenco board no longer “shared his vision”.
The company’s statement to the Stock Exchange said remaining board members believed “the future image, direction and vision of the company was now different to that of Witters”.
In May last year SK Foods of California acquired a 48.5% stake in Cedenco to give it a controlling interest in the group. Earlier this year SK president Scott Salyer became chairman of Cedenco.
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