New CEO to lead Carter Holt Harvey

New CEO to lead Carter Holt Harvey

Sir Wilson Whineray, Chairman of Carter Holt Harvey, today announced the appointment of Peter Springford as CEO and Managing Director of the company, effective 1 December 2002.

The current CEO and Managing Director, Chris Liddell has tendered his resignation having accepted a position as Vice President – Finance, International Paper (IP) based in Stamford, Connecticut.

Peter Springford is a New Zealander with extensive experience in the forestry industry. He joined Carter Holt Harvey in 1994 after more than ten years with Fletcher Challenge. During his time with Carter Holt Harvey Peter lead the profitable expansion of the Wood Products business in both New Zealand and Australia. For the last four years Peter has held the office of President - International Paper Asia, based in Hong Kong. While there he developed IP’s business in the Asian region, an area that will be highly important to Carter Holt Harvey’s growth in the future.

Sir Wilson said “We are delighted to have someone of Peter’s calibre and experience return to New Zealand to lead Carter Holt Harvey at a crucial time for the country’s wood products industry. The Board is confident that under Peter’s leadership the company will continue to grow in strength.”

Sir Wilson went on to say that Chris Liddell had made a considerable contribution to the business. “We are sorry to see Chris leave as he has contributed much to the company and leaves it in a very strong state. However, we are delighted that he has been offered a very senior position in IP – the world’s largest forest products company.”

“Chris goes with our full support and we are delighted that he will remain a Director of Carter Holt Harvey Limited. It is tremendous to see two New Zealanders doing so well on the international business stage.”

Last week Carter Holt Harvey announced operating earnings before interest and tax of $251 million for the first three quarters of 2002 – a 156% increase on 2001.

Peter Springford
New Carter Holt Harvey CEO, effective December 1 2002

Biography Date of Birth February 12, 1954 Marriage Status Married to Anthea, 3 boys – Hugh 11, Patrick 9 & Ben 9 Education MBA Otago 1984

1998 to Present President, International Paper (IP) Asia Sales trebled in 4 years. Significant increase in profit. Lead the development of new businesses in China. Made several key acquisitions. Developed strong diverse leadership team.

1994 to 1998 Chief Executive, Wood Products Group, Carter Holt Harvey - Lead acquisitions of John Edmond, Mytleford Sawmill + Forwood in Australia. - Chaired company wide health & safety initiatives. - Rangiora MDF 2nd line & Kinleith Plywood built during tenure. - Sawmills reduced from 13 to 6 in NZ.

1984 to 1994 General Manager position with Fletcher Challenge and Winstone Ltd. (acquired by FCL).

History in building & wood products industries.

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