Comvita deputy to take lead role

Scott Coulter, chief operating officer and deputy chief executive of Comvita

Bay of Plenty honey and health products company Comvita has opted for an internal replacement for long-serving chief executive Brett Hewlett.

Scott Coulter, the company's chief operating officer and deputy chief executive (pictured), was this week appointed Mr Hewlett's successor.

Chairman Neil Craig said the board had sought a candidate with the commercial and leadership capabilities to drive Comvita's growth strategy.

"Scott Coulter offers a combination of business acumen and leadership skills, with a proven 13-year track record of contributing to operational excellence, sales and market development and earnings growth within our business."

Mr Coulter had played an integral role throughout his tenure in shifting Comvita from being an exporting company to a vertically-integrated, high value-add international business, he said.

In his current role, he led a global team responsible for implementing Comvita's supply chain strategy and sales results. The board viewed him as having excellent credentials and the ability and passion to lead Comvita.

The company's strategy included brand-driven sustainable growth and innovation towards becoming a highly profitable $400 million sales annually company by 2020.

Mr Coulter was one of 10 business people awarded a Prime Minister's Business Scholarship in 2013, and completed the Advanced Management Program at Harvard Business School in 2014. He was awarded the Export NZ Bay of Plenty Achiever Award in 2010. "This is a tremendously exciting time for our business where we are well-placed to leverage our source-to-shelf control of our supply chain for consumer and commercial benefit," said Mr Coulter.

"Comvita is evolving into a trusted, global brand, and that brand equity can be levered into significant growth and innovation across a range of natural ingredient platforms."

Mr Craig said the new chief executive would take over on October 5.

Mr Hewlett - who had been chief executive since 2005 - would become a board adviser on several corporate strategy level projects until March next year. He will also remain as a director of US company Derma Sciences, in which Comvita has a commercial partnership and licence agreement for Medihoney, and assist in the leadership transition.

Mr Hewlett would be invited to join the board within 12 months of stepping down.

Mr Hewlett said he was very supportive of the board's decision.

"I have worked closely with Scott over the last 10 years and know he has the commercial sensibilities, people management skills and drive needed to continue Comvita's growth journey."

Scott Coulter's previous experience:

* Chief operating officer and deputy chief executive
* Chief marketing officer
* Sales and marketing manager