Affco boss resigns

Affco chairman, Sam Lewis, will act as executive chairman until a new CEO is appointed.

The company says Mr Townshend, who joined the company to put in place a programme of restructuring and new business development, advised the board that he felt it was a logical time for a change.

He will leave the company at the end of April and until then will focus on its investments in China, Argentina and Australia.

In December Affco announced an after-tax profit of $15.1 million for the year to the end of September, up $8.6 million on the previous year. The company had sales of $986 million.

Affco shares fell 3 cents to 39 cents in morning trading following the resignation announcement.

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