Sharechat Logo

GPG gets new chairman immediately

Wednesday 6th April 2011 1 Comment

Text too small?

Guinness Peat Group has appointed Rob Campbell has its new chairman, replacing Mark Johnson.

Johnson has stepped down, immediately, as a director and as chairman. He earlier announced that he was going to step down as chairman at the forthcoming annual meeting and not to seek re-election.

Campbell chaired the Independent Board Committee which recommended the plan to optimise value for all shareholders which was announced by GPG on February 11.

The board has now decided that this plan can be achieved with its existing resources and is not proceeding with the search for an external senior executive.

The board has also started a process to select an individual based in Australia to replace Johnson as an independent non-executive director.

  General Finance Advertising    

Comments from our readers

On 14 April 2011 at 3:57 pm packman said:
this is not good news, the new chairman is trying to prolong the winding down of assets to 3-5 years. Not a good appointment.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

GPG still wrangling UK pension liability, Coats 1H earnings more than doubles
Telecom will offer CEO and senior managers performance equity grants to boost profits
Guinness Peat completes $1.4 billion in asset sales, turns focus to Coats
Guinness Peat exits last asset outside Coats, sells Tower stake for $118 mln
Former Fonterra executive Alison Andrew appointed to head Transpower
MRP director Miller, CFO Meek go trawling for cheap shares
Rob Fyfe to leave Trilogy board, seeks new senior role in NZ
GPG focuses on cost cutting as restructuring plan is delayed by UK pensions regulator
David Ross appears at District Court hearing, remanded until Aug.29
GPG names new non-executive chairman of Coats