F&P Healthcare names First NZ Capital's St John to board

Friday 11th September 2015

Fisher & Paykel Healthcare, which is aiming to lift annual revenue to $1 billion in the next three years, named First NZ Capital chief Scott St John as an independent, non-executive director starting on Oct. 1.

The manufacturer of breathing devices and respirators said St John, who has been chief executive of First NZ Capital since 2002, would help strengthen the board and ensure a smooth transition when Roger France retires this year after six years as a director.

St John will succeed France as chair of the company’s audit & risk committee. A resolution to elect St John as a director will be put to shareholders at their annual meeting.

Last month, F&P Healthcare lifted its forecast for 2016 profit to a range of $135 million to $140 million, on the proviso that the New Zealand dollar holds at about 65 US cents for the rest of the year. That's up about $10 million from its May guidance. Some 99 percent of the company's revenue is generated outside of New Zealand and the company benefits from a weaker kiwi, which was recently at 62.88 cents.

BusinessDesk.co.nz

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