Richmond gets a brace of bosses

By PHILIPPA STEVENSON

The board of Hawkes Bay meat company Richmond will be swelled by two chief executives by the end of the year.

PPCS chief executive Stewart Barnett joined the board yesterday, after the South Island company's successful bid for a major stake in Richmond.

Richmond's own chief executive, John Loughlin, is to follow suit within months, chairman Sam Robinson said after the meeting.

Mr Loughlin had been tipped to join the board as a foil to Mr Barnett and his company's conflicting commodity-style approach to meat marketing.

Mr Robinson said Mr Loughlin would be made managing director at the earliest opportunity and no later than the December annual meeting.

That meant at least one retirement from the board to maintain the maximum number of nine directors allowed under the constitution.

The Hawkes Bay company has long been hostile to a PPCS shareholding, and twice repelled the southern company.

But yesterday Mr Robinson insisted there was no acrimony and that appointing Mr Barnett was an "important step."

"PPCS is a significant shareholder in the business. Stewart has a great contribution to make as a successful chief executive of a successful business."

But he was adamant Richmond would stick to its value-added product focus. No changes in direction had even been discussed.