Two independent directors leaving as well.
Fisher & Paykel Appliances’s long-serving chairman Dr Keith Turner is stepping down after a nine-year tenure.
He first signalled his intention to retire in mid-2018 but stayed on for a further year to help with the transition to a new chair.
He’s being replaced by Liang Haishan who has sat on the board since 2011. He has been the executive vice president of the company’s owner, Haier Group, and president of Haier White Goods Group since 2007.
Under Turner’s leadership the company underwent a major strategic shift to focus solely on developing its global premium appliance position. That resulted in the sale in 2016 of its finance division.
During his tenure the company was sold to Chinese company Haier Group in 2012, which has given it the capital to invest in new product innovation at scale.
Turner said Liang’s appointment signals continuity for the strategic direction the board decided on in 2010.
“In his eight years on the Fisher & Paykel Board, Mr Liang has played an integral role in setting our strategic vision. His appointment as Chair will prove a real asset to furthering our premium aspirations across each of our markets,” Turner said.
The former Meridian chief executive is a director of South Australian Power Networks, Victoria Power Networks, and Transgrid (NSW) and a chair of Damwatch Holdings.
Also stepping down from the board are independent directors Jacqueline Chow and Bill Roest, following tenures of three and eight years respectively.
Roest will continue as the independent chair of the Fisher & Paykel Appliances audit and risk committee, while Chow wants to focus on her ASX-listed governance roles.
