Executives of Coast plywood firm go

Press, 22 December 1986, Page 37

Executives of Coast plywood firm go

Greymouth reporter In a restructuring move, both the chief executive, Mr Brian Stan-ley-Jackson, and the marketing manager, Mr Jack Ferguson, have left International Panel and Lumber (N.Z.), which runs the plywood factory at Gladstone, near Greymouth. In a statement, Mr Peter M. South, the chairman of International Panel and Lumber (Holdings) Pty, Ltd, of South Australia, said the company’s board of directors met in Christchurch on Friday to receive reports on the performance of operating subsidiaries for the 10-month period to I October 31, the first 10 _ months of operating as an - Australian-New Zealand I joint venture. j “The Australian shareI holders have had to I contribute substantial I amounts of additional I funds during the period I to cover the operating I losses of International I Panel and Lumber (N.Z.), I which have been accentuI ated b y depressed

markets for products in both New Zealand and Australia.” In a “restructure of the company aimed at improving profitability and increasing co-ordination and consolidation of the two subsidiaries,” Mr Stanley-Jackson, who is also a director, and Mr Ferguson had left the firm. “The directors of I.P.L. (N.Z.) are now P. M. South, the chairman of I.P.L. Holdings, Ltd, and Mr R. M. Cowan, also a director of I.P.L. Holdings. “Mr Malcolm Curtis, the company secretary of I.P.L. Holdings, will coordinate financial and administrative areas. Mr Geoff Sanderson, chief executive officer (Australia) and a director, has accepted the same role for manufacturing and marketing functions of both the New Zealand and Australian operations. “There have been no other staff changes. “Mr John Renall will continue to operate as the i financial executive of I.P.L. (N.Z.), and Mr Mark Skevington has the important role of manager, resources. Both of these executives will operate from the Christchurch office with Mr Danny Gray, national sales manager. “At Greymouth, Ms Jennifer Mcßride will continue as operations manager, and no further changes are currently proposed,” said the statement. Mr South said that the company had a number of advantages including a stable and loyal work

force, and a high-quality and sizeable log resource. “We can be confident that, with more concentrated attention to the co-ordination of the production and marketing effort, satisfactory profits for the shareholders of I.P.L. .Holdings and its subsidiaries will be achieved.” The national office of I.P.L. (N.Z.) will remain at 70 Gloucester Street, Christchurch.