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Thursday 17 June 2021

Sanford CFO resigns

11th June 2021 By Bridget O'Connell | bridget@foodticker.co.nz | @foodtickernz

Seafood company Sanford’s chief financial officer, Katherine Turner, has resigned.

Her last day with the firm, which she joined in 2018 after an 11-year stint with dairy giant Fonterra, will be 30 September.

Sanford’s former chief executive, Volker Kuntzsch, left the company in September last year.

The fishing firm owns 23% of New Zealand’s seafood quota and exports seafood and seafood products globally with its top revenue markets comprising North America, Australia, South Korea and Europe.

Katherine Turner

It has been facing significant challenges at the hands of Covid-19 which has had adverse effects on foodservice demand, prices, labour and supply chains, especially freight.

Chief executive Peter Reidie, who started in the top job in early April, said among Turner’s achievements during her three years with the firm was “managing the balance sheet adeptly through a very difficult period”.

“Katherine has been a key member of the executive that has delivered a turn-around in engagement scores, with her own team being one of the most engaged in the company and significantly above external benchmark,” he said.

He added that Turner was a “dedicated and passionate member of Sanford’s leadership and we wish her all the very best in her future endeavours”.

Sanford confirmed it would be commencing an executive search for a new CFO and will provide a further market update in due course.

Last month, Sanford posted a net profit after tax of $16.2m in the six months to 31 March 2021. However, this included a $13.3m one-off gain on the sale of two non-core properties, but was still 15% below the $19m it delivered for the previous corresponding period.

 

 


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