Andy Macleod, the chief executive of the Chinese-owned Pengxin New Zealand Farm Group, has resigned.
Macleod has led the group since April 2013, overseeing the management of the 16 Central North Island 'Crafar' farms, part of New Zealand's largest family-owned dairy business which had been put into receivership, and 13 farms in Canterbury previously owned by Synlait Farms, which supplies processor Synlait Milk.
Milk New Zealand, Shanghai Pengxin Group's local unit, said it appreciated Macleod's contribution to the business and wished him well for the future. The statement from managing director Terry Lee didn't say why Macleod had resigned, although it said recruitment is under way for a new chief executive. The resignation took effect from July 8.
An advisory board has been established for the farm group, which will oversee the appointment of a new chief executive and advise the company on farm operations. The board is chaired by former Fonterra Cooperative Group director Greg Gent and includes directors Matt Ross, Craig Hurst, Terry Lee and Tony Nie.
Shangai Pengxin hit the headlines in September last year after the government scuttled its proposed $88 million purchase of Lochinver farm, saying the transaction failed on the test of providing a substantial benefit to New Zealand.
