After axing PGG Wrightson as its manager, NZ Farming Systems Uruguay has appointed a new chief executive.

In a statement this afternoon the company said Uruguay-based Alastair de Raadt had already started and has wide governance and senior management experience in Central and South America, southeast Asia and also New Zealand.

Prior to his appointment, Mr de Raadt was managing director at Tip Top in Auckland.

Shareholder Olam International has launched a takeover bid for NZFSU and approval for the termination of the PGG Wrightson management contract has yet to be ratified.

Because of these factors, Mr de Raadt’s contract will end in January, but can be extended by mutual agreement.