NCF Kaiapoi board changed, trimmed

Press, 13 July 1985, Page 21

NCF Kaiapoi board changed, trimmed

Six members of the board of NCF Kaiapoi, Ltd, have resigned and three new directors have been appointed. The changes, which follow the successful takeover bid for NCF, were announced today by the chairman of the Stevens Group, Mr C. S. Stevens. Mr Derek Morten has been appointed chairman. A former managing director of Canterbury Frozen Meat Company, he has wide experience in the meat industry and was a member of the Kaiapoi board for the seven years to 1980. “We have also been fortunate in obtaining the services of Mr Allan J. Dewar, well known in Canterbury farming and business communities in his capacity, as

managing director of International harvester (now AIC International),” said Mr Stevens. “The third new board member is Mr Geoffry Maxwell, a prominent North Canterbury farmer and businessman experienced in meat processing and trading,” said Mr Stevens. The Stevens representatives on the board, Messrs R. H. Trounce and A. J. Wakefield, will remain, as will the recently appointed representative of Alliance Freezing Company, Mr A. D. Murdoch. Also remaining on the board will be Mr D. J. C. Freeman, the nominee of the Meat Board. The appointments follow the resignations of the former chairman, Mr E. W. Turrell, along with Messrs

J. R. Taggart and G. E. Rennie and three former nominees of the Meat Board, Messrs R. M. Wilton, C. R. G. Forbes and G. C. Weston. “The new board will meet as soon as possible to consider the company’s future policies as a matter of priority. Another matter to be decided is farmer representation on the skin pool committee, the members of which will be announced soon,” Mr Stevens said. “Payments are now being distributed to shareholders who accepted our offer,” he said. "We are confident of exceeding our original target of 90 per cent of the shares held by members of NCF Kaiapoi as at April 2, 1985.”