Freightways : Announces Changes to Board of Directors

Freightways Announces Changes to Board of Directors

28th April 2016

Freightways Limited (Freightways) announces the upcoming retirement of Roger Corcoran from the Board of Directors, effective 27 October 2016, and the appointment of Peter Kean to the Board of Directors as an Independent Director, with effect from 1 July 2016.

Peter will bring to Freightways many years of senior executive experience with the Lion group of companies in both New Zealand and Australia. Peter's last executive roles were as Managing Director of Lion Nathan New Zealand and Managing Director of Lion Dairy and Drinks, based in Melbourne. Peter retired from Lion in 2014 and has since developed his career in governance. Peter is also a Director of Sanford Limited, the New Zealand Rugby Union and a number of private companies.

In welcoming Peter as a Freightways Director, Chairman Sue Sheldon said, 'Peter's capability and experience complements that of our other Directors, particularly his knowledge of the Fast Moving Consumer Goods sector and his time spent living and working in the Australian market. This experience is likewise compatible with the strategic positioning and direction of Freightways, particularly in respect of its increasing Business to Consumer volumes in New Zealand and the continued expansion of its businesses in Australia.'

Roger will retire as a Director of Freightways at the company's Annual Meeting of Shareholders in October. Chairman Sue Sheldon thanks Roger for his sound and valuable contribution to the Board of Directors. 'Following a long and successful career at TNT, Roger joined the Freightways Board of Directors in 2009, not long after the company first entered the Australian market. Roger has contributed greatly to the governance of Freightways during a very active and positive period for the company.'

Sue further noted, 'It is important our Board of Directors attracts and retains people with the appropriate mix of skills and attributes to contribute strongly to both the current and the future development of the company. A formal process exists to determine capability requirements, and then to identify and appoint directors who meet those requirements as part of the Board of Directors' ongoing succession planning.'

At the company's Annual Meeting of Shareholders on 27 October 2016, shareholders will be asked to re-elect Peter Kean to the Board of Directors of Freightways Limited.

For further information contact:

DEAN BRACEWELL
Managing Director
Freightways Limited
Ph: [phone]
Fax: [phone]