Haier heavyweights on F&P board

The appointment of two senior Haier executives to Fisher & Paykel Appliances' board is seen as evidence of the weight it is putting on the investment.

Zhou Yunjie and Tan Lixia will join the F&P Appliances board of directors as the Chinese appliance maker takes up its 20 per cent cornerstone, worth up to $82 million.

Former Fletcher Building chief Ralph Waters has asked to step down by the end of the year and Norm Geary has said he will not stand for re-election at the company's annual meeting in August.

Zhou is a senior vice-president and chief marketing officer of the Haier Group. He has been with Haier since 1996 and has held roles in sales, engineering and IT development.

Tan is chief financial officer and a vice-president of the Haier Group. She joined the Haier Group in 1992.

Market commentator Arthur Lim said Zhou's appointment was significant.

"The fact they've got the chief marketing officer shows the emphasis they are placing on the deal. They will look to leverage off Fisher & Paykel's premium image in China and they will be looking for Fisher & Paykel to reciprocate in terms of positioning Haier's products in to the Australasian market."

Haier was the world's top selling refrigerator brand by retail volume in 2008 and it says it has more than 30 per cent market share in China in refrigerators, refrigerating cabinets, air conditioners and washing machines.

Lim said Haier would be under intense scrutiny among investors in this country.

"They will be aware there will be a lot of eyes on them as to how they manage this relationship and this shareholding."

F&P chairman Gary Paykel said the directors' appointments underscored Haier's commitment to the strategic relationship and would contribute "invaluable knowledge and experience".

The pair will be at the annual shareholders' meeting in Auckland on August 17.

F&P also announced the appointment of Stuart Broadhurst as chief operating officer, with responsibility for much of the company's day to day operations.

The new role will report directly to chief executive John Bongard, freeing him up to spend more time focusing on growth opportunities arising from the Haier relationship.

Broadhurst was previously F&P's vice-president, special projects and supply chain. The 42-year-old has been with the company since 1988.