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Fisher & Paykel announces Managing Director and CEO appointment

The Directors of Fisher & Paykel Appliances Holdings have announced the appointment of Stuart Broadhurst as Managing Director and Chief Executive Officer.

Stuart was appointed Chief Operating Officer of Fisher & Paykel Appliances earlier this year and, in late September when former CEO John Bongard announced his retirement, Stuart was appointed Acting CEO to facilitate a smooth transition while a search was undertaken for the successor.

Chairman Ralph Waters said that: "Given the importance of the role, the search for a new CEO has been international, thorough and considered. A sub-committee of the Board has screened a wide range of candidates and the final contenders were interviewed by the full Board. Although we had some impressive external options, Stuart was a very strong internal candidate and he was our unanimous final choice."

Stuart started working at the company commenced in 1988 and has extensive experience in every aspect of its operations. Over the past 21 years he has progressively undertaken additional leadership roles and increased responsibility, advancing steadily through management roles within New Zealand, Australia, USA, the UK and Europe.

Ralph Waters commented that Stuart has an excellent knowledge of the business, is well respected and has a high level of credibility within the overall international whiteware markets.

The current strategic shifts in global operations, coupled with a world economic recession of major proportions, have meant Fisher & Paykel Appliances was confronted with major upheaval and challenges during the past year. Given the ongoing unpredictability around the timing of a positive recovery in global economies and the need to progress the new Thailand and Mexican operations to a world class standard, Stuart�s personal commitment, industry knowledge and recognised commercial skills convinced Directors that he is ideally suited to lead Fisher & Paykel Appliances forward in its 75th year.

T: +64 9 2730506
W: www.fisherpaykel.co.uk

12th February 2010