Reuters reported on Friday that New Zealand’s a2 Milk Co Ltd chairman David Hearn will step down from the board of the dairy giant at its next annual general meeting in November 2023.
Since March 30, 2015, when Hearn became chairman, a2 Milk’s stock price has gone up more than 1,200%, and the company’s revenue has gone up by 832%.
Hearn has worked for the company since February 2014, and he will finish his job at the end of next year, said the company that makes dairy products.
The whole board has reached the same conclusion. The company said that Pip Greenwood, who is a non-executive director, “has both the skills and, more importantly, the experience to take over from David Hearn at that time.”
Greenwood joined the dairy company more than three years ago. He is also on the boards of companies like Westpac New Zealand, Spark New Zealand, Fisher & Paykel Healthcare, and Vulcan Steel.
The official website of law firm Russell McVeagh says that Greenwood also worked there for more than 10 years as acting chairman and interim Chief Executive Officer.
Hearn said about his retirement, “I know we’ve been through some rough times lately, but it’s been an amazing opportunity to be a part of the growth of this amazing business.”
