DIRECTOR RESIGNS

Manawatu Standard, Volume LIII, Issue 20, 20 December 1932, Page 8

DIRECTOR RESIGNS

NEW ZEALAND REFRIGERATING COMPANY. Per Press Association. CHRISTCHURCH, Dec. 19. Mr John Montgomery has resigned his seat on the directorate of the New Zealand Refrigerating Company. In making this announcement, the chairman of directors, Mr H. A. Knight, states that Mr Montgomery’s resignation. has been tendered in direct opposition to his (Mr Knight’s) wishes. He states _ that having regard, to recent criticisms, he is willing to tender his own resignation at any moment, leaving it to the shareholders to say whether or not he should take any further part in the administraticfn of the company. He feels, however, that the immediate and most vita.! factor to be considered by the directors is the effective carrying on of the company’s business.

At the annual meeting, shareholders will be given an opportunity of signifying their wishes as to the future constitution of the board, but in the meantime he considers it the duty of himself and other members of the board to remain in office. Mr Knight adds that Mr Tripp’s resignation, announced at the recent extraordinary meeting of shareholders, was tendered after discussion, and with his (Mr Knight’s) approval.