Hastings businessman Sir Selwyn Cushing is stepping down from the NZX-listed Skellerup board while his son steps up. David Cushing will replace his father as a non-executive director. His appointment will coincide with Sir Selwyn's retirement at Skellerup's Annual Shareholders Meeting in October.
Skellerup chairwoman Liz Coutts paid tribute to Sir Selwyn, who stepped down as chairman in January this year, saying his first association with the company was in 1981 and he played a vital role in steering the company in his latest tenure of almost 10 years.
"Skellerup shareholders have benefited greatly from Selwyn's leadership and business skill," she said.
"Selwyn has a long association with the business. He most recently joined the board in 2007 at a time when the company needed change and the balance sheet needed strengthening. His credibility was a key factor in successful capital raisings along with new board and management appointments.
"With these changes complete he has ensured the board and management remained firmly focused on continually improving the business and therefore returns for all shareholders. Selwyn will step down having successfully chaired the company through a period of significant investment in our new dairy rubberware facility in Christchurch. This is another example of his leadership and courage providing benefits that our team and shareholders will enjoy for many years to come."
David Cushing is a former investment banker with more than 20 years of experience as a director of listed companies, including Williams & Kettle, Tourism Holdings, Acurity Health Group and NPT. He is currently executive chairman of Hastings-based Rural Equities, managing director of private investment company H & G and a director of ASX-listed agribusiness Webster.
Ms Coutts said David Cushing's experience across a broad range of industries, combined with his financial expertise, made him a valuable addition to the Skellerup Board.