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Sealord finds new chief

NEW ZEALAND - A senior executive at dairy giant Fonterra has been appointed as Nelson-based Sealord Group's new chief executive. Graham Stuart, who has been Fonterra's director of strategy for almost three years, will start his new job in July.

He replaces Doug McKay, who has been Sealord's chief executive for nearly five years.

Mr Stuart has held senior management positions for more than 20 years, including chief executive of Mainland Products, managing director of Lion Nathan International, commercial director with the New Zealand Dairy Board, and chief financial officer for Fonterra.

He played an integral role in the merger that led to the formation of Fonterra in 2001. Last year, he led acquisition and divestment projects worth more than $1 billion.

Married with three children, Mr Stuart holds a Bachelor of Commerce with first-class honours from the University of Otago, and a Master of Science from Massachusetts Institute of Technology.

Sealord board chairman Rob McLeod said Mr Stuart had wide New Zealand and international business experience, and Sealord's board was delighted that he would be leading the next stage of the company's global growth.

Mr McLeod said the appointment was made following an extensive worldwide search for a new chief executive.

Fonterra chief executive Andrew Ferrier said the New Zealand fishing industry stood to benefit from Mr Stuart's appointment as Sealord, given his experience in export markets.

Source: Nelson Mail