KEY POINTS:
Rick Fala
Chief executive
Methven
* * *
How would you describe 2006 for Methven?
A challenging but good year. The challenge has been opening up our US market and learning all about that and then at the same time having the successful expansion into Australia.
What was your or your company's greatest achievement?
Sales up 59 per cent for the half year on the previous year in Australia. It's critical to our export drive.
And greatest disappointment?
I don't think there is really as everything's proceeded pretty much on track.
What do you think 2007 will bring?
I think it will bring more growth overseas in our target markets.
What will be the major challenges for your company in 2007?
Understanding exactly what local markets are requiring so you can tailor your package to suit.
What do you expect from the economy in 2007 and how will that affect your company?
We saw the renovation and building market being pretty much the same as the 2006 calendar year.
Renovation is always steady anyway and the main fundamental for new build is immigration and at the moment immigration is up on the previous year and looks to be steady as she goes.
What was the most interesting business story of 2006?
It'd have to be Feltex actually. Why it was an interesting story is to see the dramatic decline and the actions of management and board alike and I guess the clear lessons you can learn from it.
Who was your mentor? What did they teach you?
From the first person [former Methven chief executive Alec Mandis] I learnt how important people were. As an accountant you perhaps don't really understand that but he taught me that really people are everything, that you can do more with first-class people and third-rate equipment than vice versa.
Secondly, Richard Cutfield [Methven chairman] taught me how to look strategically at a business and what it takes to move it through all its various phases and to the next level always keeping your eye on the future but grounded where you are at the same time.
Where are you going for the holidays?
I'm going to spend time in Taupo. We have a small place there that we go to every year so that's where I like to chill out.
What will you be reading?
I love science fiction so I'll probably find some meaningless science fiction book that I can just relax into.
