There have been changes at the top of Fisher & Paykel Appliances in the wake of the Chinese firm Haier taking a stake of 20% in the company.
Haier’s chief financial officer, Tan Lixia and chief marketing officer, Zhou Yunjie will join the board of the appliance maker.
Fisher & Paykel has appointed Stuart Broadhurst to a newly-established position of chief operating officer. He will look after much of the company’s day to day operations.
Chief executive John Bongard says that means he will have more time to concentrate on working with Haier to expand sales globally.
Or it could be that Haier are making sure that they have a say in how the ship is being steered, whcih is probably more likely after pumping a load of cash into F&P.
New Zealand market commentator Arthur Lim said Zhou’s appointment was significant.
“The fact they’ve got the chief marketing officer shows the emphasis they are placing on the deal. They will look to leverage off Fisher & Paykel’s premium image in China and they will be looking for Fisher & Paykel to reciprocate in terms of positioning Haier’s products in to the Australasian market.”
Or maybe F&P can teach Haier how to build decent appliances. Well, apart from front loading washing machines of course.