T&G Global CFO Hamster-Egerer to return to parent BayWa in February

Thursday 11th August 2016

T&G Global, the fruit marketer controlled by Germany's BayWa, said chief financial officer Harald Hamster-Egerer will leave the company next February to return to the parent.

Chief executive Alastair Hulbert said an announcement will be made about the CFO role in the next few weeks.

Hamster-Egerer joined the company in 2012. BayWa got Overseas Investment Office approval for its takeover of the fruit marketer formerly known as Turners & Growers in March of that year and currently owns about 74 percent of the company. Chinese fruit exporter Golden Wing Mau Agricultural Produce emerged with a 19.99 percent stake last month.

Last week, T&G Global posted an 89 percent gain in first-half profit to $22.7 million driven by sales from new and existing businesses, and a one-time gain from the sale of its crate hire unit.

T&G's shares trade infrequently because of the amount locked up with major shareholders. The stock last traded at $2.90 and has gained 38 percent this year.

BusinessDesk.co.nz

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