Methven : appoints new director.pdf 81.75 KB

NZX Release 7 September 2017

Methven Appoints New Director

Leading New Zealand shower and tapware designer Methven Limited [MVN], has appointed Tony Balfour to the Board as an Independent Director. He will join Methven's Board effective 1stOctober 2017 and stands for election at the 2017 Annual Shareholder Meeting.

Mr Balfour's appointment to the Methven Board follows ongoing assessment of skills needed to support Methven's growth ambitions and overall succession planning.

Mr Balfour is an experienced professional director, on the board of The Warehouse Group, Silver Fern Farms, Real Journeys, Mt Difficulty Wines and Les Mills and brings extensive experience in Sales, Marketing and International markets following a successful career with organisations such as Icebreaker, Nike, Mainland and Lion Nathan.

On his appointment, Mr Balfour said "I am delighted to join the Methven Board. They have carved out a strong position in the tapware and shower market here in NZ and in key overseas markets with world class design and innovation. They have genuine growth opportunities ahead of them which I look forward to being part of".

Methven Chair Alison Barrass said "Following Phil Lough's resignation and a thorough selection process, we are delighed to announce Tony Balfour's appointment to the Methven Board. With his global brand and market experience and significant commercial expertise, as well as his passion for New Zealand inc and local design and innovation, we are confident that Tony's appointment will add significant value to Methven's growth strategies."

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For queries, please contact:

Alison Barrass, Chair, +64 9 829 0418, dcampbell@methven.com

About Methven:

Methven is an NZX-listed market-leading designer and manufacturer of showers, taps and valves. Our business is headquartered in Auckland where we design, develop and manufacture many award-winning products and technologies. Our international operations see our products distributed in Australia, China, UK, Middle East and Europe in addition to our home market of New Zealand. In 2016 we celebrated 130 years of innovation and shared our long term growth plans, Methven 130 - the aim to grow sales to $130 million. This remains our strategic focus and to enhance this we have recently launched a two year business transformation plan to ensure we are better placed to weather the impact of unexpected events.

For more company information, visit http://www.methven.com/nz