F&P Healthcare's long-standing CFO Tony Barclay to retire

Wednesday 21st February 2018

Fisher & Paykel Healthcare's long-serving chief financial officer Tony Barclay will retire from the medical device maker at the end of May.

Barclay, who has been with the firm for 22 years, will continue to support the company in a consulting role for 12 months after he steps down at the end of May, Auckland-based Fisher & Paykel said in a statement. Andrea Blackie, the company's general manager finance, has been appointed acting chief financial officer from June 1 and Fisher & Paykel said it has started a formal process to appoint a replacement for Barclay.

“Having made a huge contribution to the growth of Fisher & Paykel Healthcare over the past 22 years, Tony has decided to step away from his role to allow him to have more time for family, personal travel and consider areas of future interest,” said managing director Lewis Gradon. “We would like to thank Tony for the dedication he has shown and his commitment to the company throughout his time with Fisher & Paykel Healthcare."

Fisher & Paykel Healthcare has flourished since it split from its sister company Fisher & Paykel Appliances in 2001, and it is now the second-biggest local company on the benchmark S&P/NZX50 Index behind Auckland International Airport, with a market capitalisation of $7.41 billion. The company sells its products into 120 countries around the world and generates 99 percent of its revenue from outside of New Zealand.

Barclay's departure follows that of long-serving company head Mike Daniell who stepped down as managing director in 2016, and is now a member of the board.

Blackie has been with Fisher & Paykel Healthcare since January 2017. She was previously executive director within PwC Assurance New Zealand and has over 15 years’ experience in New Zealand and the United Kingdom working with a number of listed global manufacturing and technology businesses.

“The company has commenced a formal process to appoint Tony’s successor and we will update the market in due course," said Gradon. "We thank Tony for all of his many years’ of loyal service and commitment and wish him all the very best. He will be greatly missed and difficult to replace."

Shares in Fisher & Paykel Healthcare slipped 0.6 percent to $12.90.

(BusinessDesk)

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