The Board of Scales Corporation Limited announced the appointment of Mike Petersen as Chair-elect and Independent Non-Executive Director of the company. Mike's appointment is effective from 28 April 2023. Mike will take over as Chair from Tim Goodacre, who previously signaled an intention to retire from the role this year.

Mike has over 30 years' management and governance experience in the agribusiness sector. He is currently a director of ANZCO Foods, Kelso Genetics Limited and is Chair of Agri-food digital marketplace developers, Nui Markets Limited. Mike also has advisory roles with a number of other privately-owned companies.

Mike was previously Chair of Beef + Lamb New Zealand and was also New Zealand's Special Agricultural Trade Envoy for 6 years. In this latter role he advocated for New Zealand's agriculture trade and market access interests and identified opportunities for New Zealand to commercialise its agricultural expertise offshore. Mike holds a Bachelor of Agriculture, in production and management, from Massey University.

In accordance with Scales' constitution, Mike will retire from office at the next Scales' Annual Shareholders' Meeting and will be eligible for election at that meeting. Scales' Board acknowledge the significant contribution that Tim Goodacre made to the Group during his time as Director and Chair. Tim was appointed as a Director of subsidiary company, Mr. Apple, in 2012, before joining the Board of Scales Corporation in 2014, just prior to Scales' listing on the NZX.

Tim became Chair of Scales in June 2017. Tim will retire as Chair and as a Director on 28 April 2023.