Alliance plans to offload 65% of shares for $250m
Alliance Group has announced plans to sell a 65% stake in the farmer-owned co-operative to Irish meat processor Dawn Meats Group for $250 million.
After nearly nine years in the role, current chief executive Mark Wynne has announced that he will leave the co-op at the end of September.
Ballance chair Duncan Coull says supporting and maintaining Ballance's fantastic culture will be top of mind in the board's search for a new leader.
Coull says Wynne will remain in the role until a replacement is found.
"Mark will carry on doing what he does best, leading a great team to ensure we are providing New Zealand farmers and growers with the nutrients, advice, and the tools they need to continue to be the most productive and sustainable farmers and growers in the world," says Coull.
He says Wynne is held in high regard by the Ballance board.
"When Mark informed the board of his intention to resign, he told us what a privilege it has been for him to lead such an awesome group of people serving 17,000 farmer and grower families."
Wynne says it has been an amazing and incredibly rewarding experience to lead such a diverse business and dedicated team.
