The man responsible for overseeing the transition of one of the world’s most successful herd improvement organisations from a channelled focus on industry good for the New Zealand dairy industry, to a successful commercial company delivering a diverse range of products to international farmers, is stepping down from the top job.
Stuart Gordon was appointed CEO of Livestock Improvement in January 1998 after joining the company five years earlier as General Manager of Corporate Services. A Chartered Accountant, he previously worked in a variety of senior management positions with NZ Dairy Group.
His resignation is effective on 1 February 2006. He plans to devote time to personal business interests and new business challenges.
Livestock Improvement Chairman, Stuart Bay, said Stuart Gordon is "stepping down at a time when company profits, market share, international volumes, service levels, customer satisfaction and organisational culture are at the highest levels recorded in the company’s history.
"He successfully steered Livestock Improvement from being a subsidiary of NZ Dairy Board through the physical, technical and legislative process of deregulation, to a commercial, publicly listed farmer owned company, with a diverse and expanding range of products and services and record revenues.
"The beneficiary of Stuart Gordon’s leadership is a company which has extraordinary depth in its senior management team, is vibrant, commercially strong and focussed on delivering a range of innovative products to its shareholders and an increasing range of national and international clients," Stuart Bay said.
At the time of his appointment to the position of CEO of Livestock Improvement, Stuart Gordon said he planned to lead the company through what would be the biggest period of change in its history, intending to stand down when key objectives had been met.
"In 2000 the Livestock Improvement Board endorsed a 5 year strategic plan which sought, by the end of the 2005 financial year, to increase profit to $10 million; achieve return on capital of 10%, and win a Silver Business Excellence Award.
"We are on target to deliver the first two, and have achieved the third. The Board is presently developing a vision and strategies for the next phase of growth and this is an appropriate time to hand over the reins," Stuart Gordon said.Key achievements under Stuart Gordon’s stewardship include :
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Revenue growth of 32% to $110 million.
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Increase in Return on Capital from 3.6% to 10.0%.
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Record market shares.
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Record high customer satisfaction ratings for all products.
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The highest genetic gain in the national dairy herd of any dairy nation.
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Increased the size of the company’s progeny testing team from 150 bulls each year to 300.
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Increased revenue of $12m through the innovation and launch of new products and services.
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Silver level Baldridge Business excellence Award – the first Australasian agricultural company to achieve that status.
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Acquisition of three companies, diversifying into other animal species.
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Overview of $26 million pa research and development programme.
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The patent of the first genes discovered that control milk and milk components
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At the time of the dairy industry’s deregulation, led the strategy and successful lobbying of Government for the separation from Fonterra and return to farmer users as a farmer owned co-operative.
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Chairman, Stuart Bay, said an international search is underway for a replacement for Stuart Gordon. In the interim, former NZ Dairy Group CEO, Graeme Milne*, will be Acting CEO.
Successful listing on the secondary board of the stock exchange
