Wednesday 30th November 2011 1 Comment
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Former Fay Richwhite director Geoff Ricketts is to become chair of Todd Corporation, the holding company for New Zealand’s wealthiest family, following the retirement of incumbent chairman John Todd early next month.
Ricketts, a corporate lawyer and professional director, is currently deputy chairman of Todd Corp, as well as chairman of Lion Nathan Naitonal Foods, and a director of Spotless Group, Suncorp Group, and would-be bank Heartland New Zealand.
Todd leaves the company after a life’s work, which started at the age of 18 in the family’s car assembly plant at Petone in 1945, becoming managing director of Todd Moters in 1968 and deputy chair of the Todd board in 1978, before becoming chairman in 1987.
Todd Corp, named by Forbes magazine as New Zealand’s first billion dollar turnover company, has extensive holdings in the oil and gas, commercial property, and communications sectors, having started life in 1885 as a wool-scouring business and morphed in the 1930’s into vehicle assembly.
The Wellington-based business is closely held amongst the extended Todd family and Ricketts is believed to be the first non-family member to chair its interests.
John Todd said in a retirement statement he was confident Todd Corp would “continue to be one of New Zealand’s most successful companies.” He will continue to undertake philanthropic and trustee work and remains chair of the Todd Foundation investment and administration boards
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