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Michael Hill appoints Icebreaker chair Rob Fyfe to board

Michael Hill International [NZX: MHI], the jewellery chain named for its founder, has appointed Icebreaker executive chairman and former Air New Zealand boss Rob Fyfe as a new director.

The appointment takes the retailer's board to eight directors, of which four, including Fyfe, are independent, the company said in a statement. Fyfe was chief executive of the national carrier between 2005 and 2012, and last year said he was on the hunt for a full-time management position in New Zealand.

In October, Michael Hill said it lifted first-quarter sales 8.7 percent with growth in Australia and Canada after a weak end to the 2013 financial year in what's been weak retail environment for several years.

The shares were unchanged at $1.39 in trading on Friday, having gained 13 percent in 2013. The stock is rated an average 'buy' based on two analyst recommendations compiled by Reuters with a median target price of $1.53.

(BusinessDesk)

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Comments and questions
5

Can anyone convince him to stand for Mayor of Auckland should the current one stand down? He would be outstanding.

Him being Rob Fyfe or Michael Hill?

Rob Fyfe

I think highly of Fyfe as a businessman but I believe the management process of business and politics are so different as to have almost nothing in common.

What the business world would call efficiency, in politics is called corruption.
(ie skipping an slow but open tender process to use an 'known' provider, eg John Key and the sky city convention centre.)

Politics is about negotiation and compromise, things that are not common or encouraged in private industry.

This is not a slight against industry, just an acknowledgement that it's a very different world with a different set of motives to politics.

It would indeed be interesting if Rob stood for public office. he certainly hasnt had the level of scrutiny that poor old Len has had. I doubt Rob would ever enter the fray given the public reaction to Len's exploits in the Ngati Whatua room......