Carter Holt appoints new chief executive

Mr Liddell has resigned to accepted a position as vice-president of finance at Carter Holt's majority owner, United States-based International Paper.

Mr Springford joined Carter Holt in 1994 after more than 10 years at Fletcher Challenge, Carter Holt chairman Wilson Whineray said in a statement today.

Mr Springford helped expand the company's wood products business in New Zealand and Australia, and for the last four years was president of International Paper's Asian division in Hong Kong.

Carter Holt, New Zealand's second largest listed company by market capitalisation, considers Asia a key market.

Mr Liddell will remain a director of Carter Holt. Last year he restructured the company into 32 individual business units, from the previous six divisions.

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