21 Oct 2013

Methven appoints new CEO

1:56 pm on 21 October 2013

Methven has appointed a new chief executive who will take over when Rick Fala steps down at the end of the year.

The listed tapware maker has head-hunted David Banfield from Britain who will relocate to New Zealand to take up the role in January.

Methven says its global search for a new chief executive attracted interest from about 200 people.

Last week, Methven notified the market that it's expecting to lift its first half profit by a fifth to $2.8 million and it cited a return to profitability in its British business as one of the reasons for the lift.

Methven's chairman, Phil Lough, says the company was looking for someone who could lead the organisation through its next phase of development and growth in its international business.

"Well we were looking for someone with international experience in related fields to kick the wheels of markets, particularly in Europe the United States, China and so on.

"We're reasonably well-established now in New Zealand and Australia and these are new theatres for us where there's potential to really lift our business."

Mr Lough says the company believes it has found such a person in Mr Banfield.