Pyne Gould splits and makes management changes

Thursday 10th June 2010

Pyne Gould Wrightson is planning to restructure its divisions into two businesses - Agriservices, which will handle everything from finance and real estate to livestock and rural supplies, and AgriTech, which will hold the seeds, grain and nutrition assets.

As part of the structural changes, PGW has announced senior management changes:

Michael Thomas, currently Group General Manager Financial Services, has been appointed as Group General Manager: Agriservices
John McKenzie, Group General Manager Seed, Grain and Nutrition, takes up the role of Group General Manager: AgriTech
Mike Skilling, currently Group General Manager Customer Services, has decided to leave PGW due to his wish to be located at his current residence in Auckland, where he will be pursuing other opportunities.

Managing director Tim Miles said the rationale for realignment was based on realising the full value of the underlying businesses.

"The seeds business, for instance, has a different growth pattern and much more predictable earnings than traditional rural supplies or livestock businesses. AgriTech, therefore, is also about growth and development in an international market, while Agriservices is primarily focused on New Zealand."

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