LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
Minister for Primary Industries Nathan Guy and Food Safety Minister Nikki Kaye have paid tribute to McNee for his 14 years of service as a chief executive in the public service.
"I have enjoyed working with Wayne over the last two years. He has overseen the merger of MAF with the New Zealand Food Safety Authority and the Ministry of Fisheries to create the Ministry for Primary Industries (MPI) in 2012," says Guy.
"The merger has resulted in savings of over $20 million a year and created a new strategy of 'grow and protect'. MPI now has the ambitious target of doubling exports from the primary sector from $30 billion to $60 billion by 2025.
"Wayne has created great relationships with key stakeholders, both here and internationally. He knows that businesses are the engine room of economic growth.
"I'm sorry to see Wayne go but his new role as chief executive of the Livestock Improvement Corporation will utilise his skills, experience and knowledge. I'm encouraging the SSC to move quickly on finding a replacement and I'm sure this important role will attract a lot of interest.
Kaye says McNee has shown leadership through the merger of several government agencies, including the New Zealand Food Safety Authority, to form the Ministry for Primary Industries. "This has been an important step for improving the overall management of our food systems," says Kaye.
"With food making up more than half of our exports, it has been important to have an integrated agency and someone at the helm who understands the whole food supply chain. Wayne has also helped to build relationships with emerging markets who are interested in our food systems."
