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Sanford expands executive team

Wednesday 29th October 2014

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Sanford, the country's biggest listed fishing group, has expanded its management team to kick off structural changes under new chief executive Volker Kuntzsch.

The Auckland-based company's senior managers are chief operating officer Greg Johansson, chief financial officer Clement Chia and chief people officer Claire Walker, rounded out by Kuntzsch, who took over the top job in December last year. The appointments are the first step in a company-wide structural change to become more customer focused and drive an international value-add strategy, it said.

"Supported by a strong and experienced leadership team, my goal is to drive more value for Sanford's seafood products through leveraging New Zealand's image and international reputation, our unique marine environment and premium seafood resource," Kuntzsch said. "We want our seafood to move beyond a traded commodity because what we take from the oceans is a precious resource."

Earlier this year the fishing group reported a 17 percent decline in profit to $11.7 million in the six months ended March 31, due largely to lower prices for skipjack tuna and blue mackerel.

Sanford also announced the retirement of general manager of marketing and development Vaughan Wilkinson.

The shares last traded at $5.05, and have gained 8.6 percent this year. The stock is rated an average 'sell' based on two analyst recommendations compiled by Reuters, with a median target price of $4.58.


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