Sanford named seafood industry veteran Volker Kuntzsch as chief executive, replacing Eric Barratt who is retiring after 15 years leading the New Zealand's largest listed fishing company.
Kuntzsch is currently president of Nippon Suisan (USA) and CEO of Brunswick, Georgia, US-based Prince Seafood Corp. Previous jobs include global marketing director at Nippon Suisan Kaisha in Tokyo, and managing director of Namibia's Hangana Seafood, Sanford said in a statement. He has also worked for Unilever Europe.
He will take up the new job in early December.
Shares of Sanford climbed 3.4 percent to $4.60 and have gained about 4 percent this year.
Earlier this month, Sanford said profit in the year ending Sept. 30 will fall short of its forecast after lower catches of skipjack tuna and toothfish and slow growth in its main Marlborough mussel growing area.
Profit will probably be $23 million to $25 million in the year ending Sept. 30, from $21 million last year, the Auckland-based company said in a statement. That's less than Sanford forecast in May when it said second half profit would probably match the $14 million posted in the first half.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- No chief of staff leaves one year before an election, says Matthew Hooton
- 'Grumpy as hell' Bill Bennett says he'll use a VPN to connect to Chelsea's club channel
- NZForex's Alex Hill says the market will be paying more attention to data, than comments from officials
- Timely chief executive Ryan Baker on making an unfashionable profit
- NZ King Salmon CEO Grant Rosewarne on his company's float plans