Farmlands Appoints Independent Director

Rural Retailer Farmlands appoints Independent Director

The former managing director of Farmers-Deka Ltd and director of Maori Television, Wayne Walden, has been appointed an independent director of Farmlands Trading Society.

Mr Walden joins the Farmlands' board just a week after the rural retailer announced a record $3 million shareholder rebate, signaling a strong profit result for the 2006/2007 financial year. Mr Walden has more than 30 years senior management experience in the liquor, wholesale and retail trades in New Zealand.

He is the owner of the Principals Fashion chain in New Zealand chairman of the Youth Development Endowment Trust and partner with his wife Meryl in Oneriri Station, a large Sheep & Beef Station in Northland. His past directorships also include Westpac Bank NZ Advisory Board, Mighty River Power Limited, chairman of Tranzrail and deputy chairman of Meat New Zealand.

Mr Walden received an Officer of The New Zealand Order of Merit (ONZM) Honour for Services to Business and the Community in the 2007 Queens Birthdays Honours List.

Farmlands chairman Lachie Johnstone said Mr Walden's breadth and depth of corporate experience, supported by his affinity for rural New Zealand would be invaluable in planning and delivering Farmlands' future business strategy Mr Walden will join the Farmlands Board immediately for an initial three year period. He replaces Chris Moller who recently retired.

ENDS

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