Turners & Growers have appointed a new chairman to replace Tony Gibbs, who quit abruptly on Wednedsay after earlier saying he would leave at the company's annual meeting in two months time.
He's been replaced by Rob Campbell, a chairman of Guinness Peat Group, which is seeking to sell its 66% stake in Turners and Growers.
The fruit and vegetable grower is now undertaking a strategic review of the business to find ways to boost its share price, and Mr Gibbs says it's the right time to step down.
GPG will sell nearly all its assets, including its 35% stake in Tower, in which Mr Gibbs remains chairman.
Mr Gibbs says with a sale on the cards, he thought it appropriate to step down and clear the way for the process to take place.
He will continue to advise Turners & Growers on kiwifruit regulatory issues.
Turners & Growers has actively called for the dismantling of Zespri, the industry's monopoly exporter and marketer.