HW Richardson to remain privately owned

Invercargill-based H W Richardson Group would remain a private family run business after a raft of personnel changes, the Southland Times reported today.

The company has been in flux since principal Bill Richardson died suddenly last March. He was listed on National Business Review's Rich List with a net worth of $118 million.

The group turns over about $400m annually and employs more than 1000 staff. Its haulage and ready-mix empire includes Allied Concrete and Materials, Southern Transport, SouthRoads, Kapuka Transport, Herberts Transport, Transport Services Southland, Hokonui Haulage, Andrews Transport and Freight Haulage.

A dispute about strategic direction saw managing director Peter Carnahan resign just months into the job he took up after Mr Richardson's death.

Board members Ken Richardson, former Preston Russell Law senior partner Peter Low and Alliance Group chief executive Owen Poole also resigned, the paper reported.

New managing director Scott O'Donnell -- Mr Richardson's son-in-law -- said yesterday the board structure was simply being returned to what it had been before Mr Richardson's death.

The new board would comprise Mr O'Donnell, his wife Jocelyn, and Mr Richardson's widow Shona.

The group would remain private and there were no thoughts of a public listing, Mr O'Donnell said.

- NZPA