Friday 10th June 2011
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Gary Paykel is deferring his retirement as a director on the Board of Fisher & Paykel Appliances' by 12 months after there were two unforeseen departures from the board.
"The unforeseen departure of two directors, in such a short time frame, means that Mr Paykel's understanding of the company’s operations, products and its key markets will provide an essential overlap of valuable experience and stability as the board progresses with its succession plan," the company said.
Simon Botherway departed on April 30 to pursue other career interests and Philip Carmichael announced in March that he would be resigning from the Haier Group and from the board and Liang Haishan of the Haier Group was appointed on April 14.
The board has had a number of changes in recent years and faces more change. Lindsay Gillanders retired from the board in August 2010 and Ralph Waters stepped down as chairman and resigned in February. John Gilks is to retire at the annual meeting in August and Peter Lucas will retire in 2012.
Two new board appointments will be announced this year, the company said.
Paykel, who is the son of one of the company's founders, worked for the company from 1960, serving as managing director and chief executive for many years. He is a Companion of the New Zealand Order of Merit.
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