Sealord ceo Mckay quits to head Independent Liquor

By NZPA

Tuesday 30th January 2007

Doug McKay, chief executive of Sealord, has been headhunted by the new owners of Independent Liquor to become the executive chairman of the alcopop company.

Independent Liquor (NZ) was sold in December to a consortium of private equity firms Pacific Equity Partners and CCMP for an undisclosed sum, believed to be around $1.3 billion.

Independent was put up for sale after founder Michael Erceg died in a helicopter crash in November 2005.

Its products include ready-to-drink Woodstock Bourbon & Cola and Kristov Vodka Cruisers and it makes Haagen beer.

Sealord chairman Rob McLeod said McKay had been Sealord's chief executive for nearly five years and under his leadership the company had delivered record results in very difficult business conditions and expanded its global reach.

"He received an unsolicited approach from CCMP and Pacific Equity Partners (PEP) and, after considerable thought, has accepted a new role as executive chairman of Independent Liquor Company and non-Executive Chairman of PEP's investments in Tegel and Griffins."

McKay's appointment is effective May 1 and Sealord expects to appoint a new ceo by then.

In the June year, Sealord and its associate companies reported record sales of over $600 million.

McKay was instrumental in Sealord's purchase of a 35% shareholding in a Danish-based seafood marketing and distribution company, Nordic, which greatly assisted its access to European markets.

About 60% of its business is in purchased seafood, up from 40% a few years ago.

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