The chairman of New Zealand poultry producer the Tegel Group, James Ogden, has resigned after just under a year in the post.
Tegel said today (5 April) Ogden had left “with immediate effect”, but did not give the reasons behind his decision to stand down as chairman and a director.
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A statement issued by Tegel’s board to the New Zealand Stock Exchange thanked Ogden “for his leadership and dedication to the board and Tegel over the past year” and wished him “all the very best for the future”.
The company said independent non-executive director David Jackson, who is also a director of Fonterra, had been appointed to succeed Ogden as chairman.
Tegel said the board has “commenced a process to appoint a new independent director to the board and will advise the market once that process has been completed and a new director appointed”.
Shares in Tegel closed down almost 6%.
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By GlobalDataIn December, Tegel lowered its full-year profit guidance after reporting a mixed first half.
