KEY POINTS:
Finance company Hanover's departing chairman, Greg Muir, is to take the reins of agritech firm Tru-Test next year.
Muir - the winner of this year's Shareholders Association Golden Glob for his role at Hanover - will become the firm's chief executive and managing director in February, taking over from Des Scott, who is retiring after 21 years.
Tru-Test chairman John Loughlin said Muir has been a long-time shareholder, and the company approached him for the role.
"Basically we think Tru-Test has got an excellent base position in its businesses of electric fences, scales, milk meters and so forth, and we're looking for Greg to take forward the work we've done on production costs, and add to that some work in supply chain and growing our position in our categories around the world."
Muir's track record in consumer retail businesses such as The Warehouse and Pumpkin Patch would serve Tru-Test well, said Loughlin.
Retail, he said, was very much about the supply chain - getting products on shelves with as little additional cost as possible.
"We're certainly looking at it in terms of our own supply chain and being very competitive in that regard."
Privately owned Tru-Test is the largest manufacturer of electric fencing equipment, livestock scales and milk-metering equipment in the world, supplying approximately 80 per cent of world demand for livestock scales and milk meters.
It operates in three countries, and exports to 70.
But it has suffered from the strong kiwi, posting a $7.8 million loss in its latest annual result.
Muir, who will also take a seat on the Tru-Test board, announced last week that he was leaving Hanover after three years on the board.
The finance company froze investors' funds in July but last week revealed a moratorium package that aimed to repay more than $500 million of investors' money over five years.
Muir's involvement in Pumpkin Patch is also being scaled back. He stays on as chairman, but is giving up his executive duties.
