Wools of New Zealand chief executive Ross Townshend has resigned to pursue his own business and personal interests.
Mr Townshend, a Waikato sheep farmer and agri-businessman, was appointed to the role in mid-2013, following the capitalisation of the Christchurch-based wool marketing and sales company.
His previous agribusiness experience included more than 10 years of senior operational roles with Rank Group companies Goodman Fielder, Bluebird Foods, Evergreen Packaging, Carter Holt Harvey and New Zealand Dairy Foods.
He is also a director of Tatua Co-operative Dairy Company Ltd.
In a statement yesterday, WNZ chairman Mark Shadbolt said Mr Townshend had been instrumental in developing and implementing a robust strategy over the company's first two formative years.
''Ross has established many new initiatives and has got the company operating well on an international basis, presenting opportunities for WNZ grower shareholders,'' he said.
Mr Townshend would be returning north to the Waikato where he had farming and business interests, Mr Shadbolt said.
Mr Shadbolt, a Banks Peninsula farmer, would revert to the role of executive chairman, pending the appointment of a new chief executive.
