Michael Hill appoints Icebreaker chair Rob Fyfe to board

Michael Hill International, the jewellery chain named for its founder, has appointed Icebreaker executive chairman and former Air New Zealand boss Rob Fyfe as a new director.

The appointment takes the retailer's board to eight directors, of which four, including Fyfe, are independent, the company said in a statement. Fyfe was chief executive of the national carrier between 2005 and 2012, and last year said he was on the hunt for a full-time management position in New Zealand.

In October, Michael Hill said it lifted first-quarter sales 8.7 percent with growth in Australia and Canada after a weak end to the 2013 financial year in what's been weak retail environment for several years.

The shares were unchanged at $1.39 in trading on Friday, having gained 13 percent in 2013. The stock is rated an average 'buy' based on two analyst recommendations compiled by Reuters with a median target price of $1.53.

BusinessDesk.co.nz

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