Chief Executive for Maori Fishing Company Named

MEDIA RELEASE
24 September 2007

Chief Executive for Maori Fishing Company Named

The board of Aotearoa Fisheries Limited today announced that Jeremy Fleming will be the new Chief Executive for the company.

AFL Chairman Robin Hapi, who recently stood down as CEO to become Chairman, said: “We are delighted to have someone of Jeremy’s experience and background join AFL. He has been working at the highest levels of Carter Holt Harvey Limited and his leadership and operational experience will complement that of the AFL board and executive team.”

“With direct experience in managing a large primary products business in New Zealand, we believe Jeremy is well-placed to continue the current earnings trajectory of AFL,” Mr Hapi said.

Jeremy has had a successful career in the forestry industry for over 25 years. He has held a number of senior roles including Chief Executive of Carter Holt Harvey Forests; Chief Executive of Oxygen Business Solutions an IT outsourcing business established by Carter Holt Harvey; General Manager of Carter Holt Harvey’s Performance Improvement team, and Financial Controller of Carter Holt Harvey Forests. He has been in his current role as an independent forestry consultant since mid 2006.

Jeremy has a strong executive pedigree previously leading a $350 million per annum business employing 300 staff and over 2000 contract workers. He has been in his current role as an independent forestry consultant since 2006.

Jeremy was chosen from a list of highly qualified and attractive candidates. “For a company that has been operating for less than three years, Maori and our iwi shareholders should be encouraged that AFL attracted such high quality people to lead the company,” Mr Hapi said. “AFL has gone from a tough first year to a $4.6 million profit in the last financial year. We are expecting to improve considerably on last year’s profit in the current financial year.”

Jeremy will take up his position with AFL on 1 October 2007.

AFL is owned by Te Ohu Kaimoana and Iwi organisations. AFL owns the 50 percent shareholding in Sealord Group Limited and wholly owns Moana Pacific Fisheries in Auckland and Prepared Foods Processing Ltd in Palmerston North.

ENDS

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