Goodman Fielder: CEO to leave the company

Sydney / AU. (gfl / wib) Goodman Fielder Limited chief executive officer, Peter Margin, will leave the company at the end of April – to pursue the next stage of his career, the company said in a statement. Margin has been Goodman Fielder´s managing director for more than five years. Chairman Max Ould said, Margin had done an outstanding job of leading the company through its float in late 2005 and establishing it as the leading locally owned food company in Australasia: «Peter leaves to pursue the next stage of his career and, on behalf of the Board and management, I thank him for his significant contribution to Goodman Fielder and wish him well for the future». An internal and external search process is underway, Ould said in the statement. Goodman Fielder said it expected to announce Margin´s replacement before his departure. In November 2010, the company also had to announce the resignation of its chief financial officer David Goldsmith. According to Australian newspapers «Margin´s surprise resignation marks a further loss of executive talent from the struggling foods company».

About: Goodman Fielder Limited is Australasia´s leading listed food company. The company has an excellent portfolio of well known consumer brands in some of Australia´s largest grocery categories, including Meadow Lea, Praise, White Wings, Pampas, Mighty Soft, Helga´s, Wonder White, Vogel´s (under licence), Meadow Fresh and Irvines. The products cover every meal, including breakfast, lunch, dinner and snacks. The company produces bread, milk, margarine, flour, dressings, condiments, mayonnaise, frozen pastry, cake mix, pies, savouries, smallgoods, chilled and frozen pizza, desserts, sauces, vinegar and cooking oils. Goodman Fielder is also the largest supplier of edible fats and oils to Australian and New Zealand food manufacturers and wholesalers and the largest supplier of flour to New Zealand commercial customers.