Silver Fern Farms director resigns

North Island-based director Ian Grogan has resigned from the board of Silver Fern Farms citing "fundamental and philosophical differences".

Mr Grogan declined to elaborate further when approached yesterday, and chief executive Keith Cooper said little should be read into the incident at last week's board meeting.

But it occurs at a key period for the meat co-operative as it makes major changes to the way it operates and prepares to raise new capital from shareholders through a share issue.

It was also planning a governance review, which included reducing the size of the board from its current 12 members.

A Manawatu sheep and beef farmer, Mr Grogan was one of two North Island directors on the board, having been elected in February 2008.

He was also a member of the company's North Island shareholders council.

Chairman Eoin Garden earlier this year said the capital would be used to boost investment in the company, especially its pasture-to-plate strategy, and to insulate itself from the recession.

In April, SFF announced it would this year launch consumer brands, change its supply management, install robotic and X-ray yielding technology along with a continued push to find new markets for sheepmeat outside the United Kingdom and Europe.

- neal.wallace@odt.co.nz