Sanford chairman dies after illness

Bruce Cole, chairman of seafood company Sanford, has died after a short illness.

Sanford managing director Eric Barratt said Cole was elected a director of the company in 1987, after an outstanding business career with LD Nathan.
He became deputy chairman in 2004 and was elected chairman in 2006.

During Cole's board tenure, shareholder value in the company had grown from $50 million to more than $500 million and annual dividends had grown from $3 million to more than $20 million, Barratt said.

"One of the strong attributes Bruce brought to the board has been a focus on creating value for shareholders while at the same time retaining an industry focused growth strategy built on sustainable development. His contribution will be sorely missed."

Deputy chairman Jeff Todd had assumed the role of chairman in the interim.

- NZPA