Richmond CEO resigns as PPCS clear-out continues

1.20pm

PPCS' top level clean-out of its newly acquired subsidiary Richmond continued today with the resignation of chief executive Richard Carver.

A successor has not yet been named, but it is widely tipped the new chief executive will come from within the ranks of PPCS.

The Hawkes Bay-based Richmond is now a full operating subsidiary of PPCS, which is based in Dunedin and there has been speculation management of the meat companies will be streamlined.

In a statement to the stock exchange today PPCS, which last month won a seven-year, bitter takeover battle, hinted there were more changes to come.

These included integrating the Richmond business into the overall group in time for the coming season.

Mr Carver's resignation comes on the heels of a cleanout of the Richmond board which followed PPCS' successful takeover of the company last month.

On July 27 five Richmond board members stepped down and were replaced by PPCS board members or associates.

- NZPA