Campbell to chair Turners & Growers

Rob Campbell, chairman of Guinness Peat Group, has been named to the same position at its 66 per cent fruit and vegetable company Turners & Growers.

Current chairman Tony Gibbs has resigned, effective the close of trading today, the company said in a statement.

He had planned to step down at the annual meeting in June.

The change comes a day after Turners & Growers announced it has hired Goldman Sachs & Partners for a strategic review to 'unlock value'.

GPG is reviewing all its assets with a view to raising capital to return to shareholders.

Campbell said that under Gibbs' 16-year tenure, the company has "grown from a domestic fruit and produce seller into a significant player in the international fresh produce industry." Gibbs will be retained as an adviser on kiwifruit regulatory issues, he said.

Shares of Turners and Growers climbed 5.4 per cent to $1.75 on the NZX today, valuing GPG's holding at $127 million. GPG fell 0.6 per cent to 81.5 cents.