New Zealand meat processor Richmond has appointed Richard Carver as its new chief executive, effective 1 July.
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Carver, who is currently chief executive of Ecopine, a timber and plywood business, succeeds acting chief executive Graeme Milne, who held the post for the ten months following John Loughlin’s resignation. Carver was Richmond’s finance manager from 1990 to 1992, reported Dow Jones International News.
Meanwhile, rival meat company PPCS has tried one final time to persuade Richmond shareholders to accept PPCS’ offer as the South Island meat company attempts to acquire 21% of Richmond’s shareholding in the last few days of the offer.
Jim Pringle, PPCS chairman, has written to the North Island company’s shareholders telling them its is their last chance to sell their shares to PPCS. Pringle said the offer, which has been extended eight times already, would definitely close on Friday.
PPCS will keep its 69% shareholding and voting rights in Richmond until the outcome of an Appeal Court hearing in late July is decided.
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By GlobalDataLast November the High Court ordered PPCS to give up more than six and a half million shares in Richmond because of the way it went about acquiring an interest in the company. The court also said PPCS would lose voting rights on the remaining shares it holds unless it is successful in inquiring 90% of Richmond.
That ruling will not be enforced, however, until the appeal is decided, reported the New Zealand Press Association.
