Friday 3rd June 2011 1 Comment
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Allied Farmers has named Fonterra executive Steve Morrison as the chief executive of its rural division.
The appointment comes ahead of the departure of current company chief executive Rob Alloway, who leaves at the end of June when his contract expires.
Alloway was heavily involved in Allied Farmers purchase of finance company Hanover's loan book in December 2009. That deal has since taken a heavy toll on the company.
The NZ Herald recently reported that Alloway said he was glad his contract was ending because he was unhappy with the board.
"There's no love lost. I won't miss Allied Farmers," he said.
Earlier this week Allied Farmers said that with the impending departure of Alloway, the company had restructured its executive team, with two distinct divisions - rural and investments - to have their own leadership.
Allied Farmers Investments was the division holding the former Hanover and United property and loan assets. A full time chief executive was no longer thought to be required for that division, with a third party to be appointed to manage the assets.
Today the company said its new appointment to head Allied Farmers Rural, Morrison, had held various management roles in the dairy industry in the past 20 years.
He had been responsible for a significant portion of Fonterra's manufacturing operations for a number of years as central regional general manager, based in Hawera.
Most recently Morrison was manufacturing value add manager for New Zealand operations for Fonterra.
He had developed Tairoa Lodge near Hawera and owned a sheep and beef property near Stratford.
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