Livestock improvement appoints new CEO

Farmer co-operative Livestock Improvement Corporation (LIC) has appointed Mark Dewdney as its new chief executive.

Mr Dewdney will take on the role in June. He joins LIC from Fonterra, where he works in Tokyo as regional managing director of Fonterra Ingredients Asia.

He has worked for LIC before, as general manager of its international subsidiary, LIC (NZ) Ltd, from 1997 to 1999.

LIC chairman Stuart Bay said the company had undergone major changes in the past few years and was now in a position to expand both locally and overseas.

"There were a number of very high-calibre applicants and it is significant that a former employee of the company was chosen," Mr Bay said.

LIC listed on the stock exchange's alternative market, the NZAX, in April 2004.

Originally a spinoff from the New Zealand Dairy Board, the company provides artificial dairy breeding programmes to farmers, along with herd testing, herd recording and information services.

Shares in LIC last traded on Wednesday at $1.36, having ranged between $1.18 and $1.60 during the past 12 months.

- NZPA