Tough job being CEO of a stock company

Job security is certainly not a selling point for the position of chief executive of one of the country's three largest stock and station companies.

The chief executives of Williams and Kettle, Paul Macfie, Pyne Gould Guinness (PGG), Hugh Martyn, and Wrightson's Barry Brook have all lost their jobs in the past two years as the sector undergoes substantial change.

Mr Macfie was appointed to the top job at Williams and Kettle in mid-2003, only to lose it when the Napier firm was taken over by Wrightson in March.

He is now a Wrightson regional manager based in Napier with responsibility for subsidiary company Fruitfed Supplies.

With last week's announcement that Wrightson and PGG were considering a merger, Hugh Martyn, 47, and Barry Brook, 56, will lose their jobs if it proceeds, but the chairman of PGG-Wrightson, Bill Baylis, said the two were expected to be leading candidates for the job of chief executive of the enlarged company.

Mr Martyn was appointed in October 2003 and Mr Brook last December -- just two days after Wrightson launched the takeover bid for Williams and Kettle.

Mr Baylis said in an interview this week that the board hoped to appoint a new chief executive by the end of the year.

The specialist nature of the position meant the directors would confine their search to Australia and New Zealand.

"It's the sort of organisation that needs a real affinity with the culture of New Zealand farming. That is why we see Hugh Martyn and Barry Brook as leading contenders."

New Zealanders working in senior management positions overseas could be lured back home to head the $1 billion merged entity with its head office based in Christchurch, Mr Baylis said.

- nzpa