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Goodman Fielder CEO exits

Screen Shot 2015-03-18 at 11.25.47 AMThe CEO of Australia’s largest food maker, Goodman Fielder, Chris Delaney, has resigned from the company following its $1.34 billion sale to Singapore agribusiness, Wilmar, and Hong Kong-based investment firm, First Pacific.

Goodman Fielder is the maker of brands including Wonder White, Helga’s, Meadow Lea, and Pampas. The takeover was approved by Goodman Fielder’s shareholders last month, with more than 99 per cent of votes cast by its shareholders at a meeting in Sydney in favour of the transaction.

Scott Weitemeyer has been named as Delaney’s replacement, appointed as MD and CEO of the business. The takeover has also resulted in the resignation of its board members, effective immediately, including Steven Gregg, Chris Delaney, Ian Cornell, Jan Dawson, Chris Froggatt, Peter Hearl, Clive Hooke, and Ian Johnston.

Robin Nicholson, Kuok Khoon Hong, Scott Weitemeyer, and Graham Pickles have been appointed to the new board of Goodman Fielder, with Nicholson also appointed chairman of the board.

“We are delighted that the scheme has now been implemented. This final step in the process completes First Pacific and Wilmar’s acquisition of Goodman Fielder and we look forward to working with the business to implement our transition plans and growth agenda,” Nicholson said.

Goodman Fielder expects to be delisted from the ASX and NZX on March 19.

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