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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Sanford Limited    SAN   NZSANE0001S0

SANFORD LIMITED

(SAN)
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Sanford : Board Chair Announces Retirement. New Chair Appointed.

08/22/2019 | 08:13pm EST

22 August, 2019

Media release: for immediate use

Sanford Board Chair Announces Retirement. New Chair Appointed.

Paul Norlinghasformally advised the Sanford Boardhewill retirefrom the position of Chairman and as a Director of the company, following the company's annual shareholders' meeting on December 13,2019.

Above: outgoing Sanford Board Chair Paul Norling. He has announced he will exit the role in December 2019, to be replaced by current Deputy Chair, Sir Rob McLeod.

The Board has elected Sir Robert McLeod - currently the Deputy Chairman - to replace him and assume the position of Chairman, effective on the current Chairman's retirement.

Mr. Norling commented that it had been a privilege to be Chairman of Sanford -a company with a long and distinguished heritage in the New Zealand fishing industry, with the business having itstraceable beginnings back as far as 1864.

"During my tenure as Chairman it has been a pleasure to see the company on a voyage of transformation, as itfocusses on being a producer of branded seafood and other value added marine based products of substantially higher value, rather than selling into the international commodity markets,as ithad done in the past."

''Considerable progress hasbeen madeinthis regard,aided alsobysome major innovation and other transformational initiatives, butthere is also still a meaningful

way to gotofully realisethesubstantial benefits that are available" he added.

He also commented "I, along with the rest of the Board, are delighted Sir Robert has agreed to assume the role of Chairman and I am sure he will continue to serve the company outstandingly well in this leadership capacity".

Sir Robert said he also felt privileged to be asked to lead the Sanford Board of Directors, saying "the company has an exciting future which the Board and management are committed to realise."

He also acknowledged the very significant contribution that Paul Norling has made to Sanford during his time as a director and as Chairman.

"Paul hasworked tirelessly and effectively to bring Sanford to its present position, and he can be very proud of the achievements and contribution he has made. We wish Paul and Gabrielle the very best for the future."

****ENDS****

For more information or to arrange interviews, please contact: Fiona MacMillan

GM Corporate Communications, Sanford fmacmillan@sanford.co.nz

+64 (0)21 513 522

Sanford Ltd

Sanford is New Zealand's oldest and largest seafood company - we have been listed on the New Zealand stock market since 1924. We are focused on sustainability and on maximising the value of the resources we gather from our oceans, enabling long term value creation from oceans teeming with life. Sanford sites can be found in eleven locations around New Zealand and we are a team of 1700 staff and sharefishers across the country. We are committed to innovation: we have a team of scientists whose mission is to find new ways to make the most of the life-enhancing properties of seafood, from anti-inflammatory supplements to skin-nurturing collagen. Our latest annual report can be found here.

Disclaimer

Sanford Limited published this content on 23 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2019 00:12:09 UTC


© Publicnow 2019
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Sales 2021 508 M 362 M 362 M
Net income 2021 25,1 M 17,9 M 17,9 M
Net Debt 2021 188 M 134 M 134 M
P/E ratio 2021 18,4x
Yield 2021 1,21%
Capitalization 462 M 330 M 329 M
EV / Sales 2021 1,28x
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Nbr of Employees 782
Free-Float 65,4%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 6,10 NZD
Last Close Price 4,94 NZD
Spread / Highest target 41,7%
Spread / Average Target 23,5%
Spread / Lowest Target 5,26%
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Andre Reuben Dudley Gargiulo Chief Executive & Customer Officer
Robert Arnold McLeod Chairman
Clement Chia Chief Operating Officer
Katherine Turner Chief Financial Officer
Peter John Goodfellow Non-Executive Director
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