Infant formula supplier Bellamy's has appointed Rodd Peters as its new chairman, a day after most of the company's board resigned or were dumped in a shareholder backlash.
Mr Peters was one of two new directors appointed at an extraordinary general meeting on Tuesday after chairman Rob Woolley resigned and all but one sitting board member were removed by shareholders upset by the company's recent financial performance and a massive plunge in the value of the company's shares..
Bellamy's said it expects to appoint more directors in due course after Tuesday's vote left it with just three on the board.
Mr Peters and Chan Wai-Chan were the two new directors elected, to join the one director who managed to hold her seat, Patria Mann.
Mr Peters, a lawyer, represents the Black Prince Private Foundation, which is Bellamy's biggest shareholder and which put up three board candidates: Mr Peters, Mr Wai-Chan, and Kathmandu founder Jan Cameron, who led the rebel push but failed to win a seat.
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