Changes at top for Lion
PA Wellington Mr Douglas Myers, who took the brewing industry by surprise last year with his overnight purchase of a fifth of shareholding in Lion Breweries, was appointed managing director of the firm yesterday. The man he succeeds, Mr John , Macfarlane. was appointed chairman of directors.
The son of Sir Kenneth Myers, a former director of Lion Breweries. Mr Myers is in his early 40s. He is a graduate of Cambridge University (in history) and has studied at the. Harvard School of Business.
He gained prominence
with a $22 million, two-day share-buying spree to gain 19.9 per cent of Lion’s capital. putting him ahead, in shareholding, of Singaporean interests.
The Myers family had a joint interest with Lion for several years in New Zealand Wines and Spirits. Last year the family decided to act on an agreement dated back to 1971, under which it could ask Lion to buy the family's half-share.
However, there was a dispute about the price Lion would pay. The issue went to arbitration and only earlier this month Lion announced it would pay $24 million for the 50 per cent interest.
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Press, 26 August 1982, Page 6
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191Changes at top for Lion Press, 26 August 1982, Page 6
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