Second woman for F&P board

F&P board chairman Keith Turner says it's not about gender, it's about getting the right mix of skills. Photo / Natalie Slade

The New Zealand Shareholders' Association has welcomed whiteware maker Fisher & Paykel Appliances' indication it may soon appoint a second woman to its board.

The move comes as pressure is placed on publicly listed companies to appoint more females and minorities to senior management and boardroom roles.

F&P Appliances chairman Keith Turner told shareholders at the annual meeting last week the board was in the process of appointing two as yet unnamed directors - one of whom was an Australia-based woman with a retail, marketing and branding background.

The other was "a New Zealander well-known for his contribution in two very large companies where he has had success ... expanding them into globally large enterprises", he said.

The company faced two unexpected resignations from its board this year.

Philip Carmichael, a representative of F&P Appliances' cornerstone shareholder, China's Haier, stood down after his resignation from the Chinese firm. Simon Botherway resigned after taking on a corporate role at ANZ.

Yesterday Turner said the possible appointment of the woman to the board had nothing to do with "a specific gender objective".

"Since I became chairman [in February] the focus has been on getting the right mix of skills for the board first and foremost," he said. "This is about getting great people."

New Zealand Shareholders' Association chairman John Hawkins said the investor group had been "nagging" F&P Appliances about rejuvenating its board. It was especially important for an appliance manufacturer to have female directors. "With the types of products Fisher & Paykel make, a significant number of the purchasers and users are women," Hawkins said.

F&P Appliances, which last week indicated earnings before interest and tax (ebit) would drop by up to 32 per cent this year, already has one female director - Tan Lixia - who sits on the board as one of two representatives of Haier.

Last week NZX chief executive Mark Weldon told the Listener the exchange was proposing new rules requiring listed firms to declare how many women and minorities they had in board and management positions. The change may come into force next June.