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Methven appoints new Group CEO

* David-Banfield.jpgPremium international shower and tapware supplier Methven, has this week announced the appointment of David Banfield as its new Group Chief Executive Officer, effective January 2014.

David, an internationally experienced UK-based CEO, will relocate to New Zealand to assume the role. Longstanding current Group CEO Rick Fala will defer his planned retirement date to December to assist the transition and will then remain involved as a non-executive director.

Methven Chairman, Phil Lough said David Banfield's appointment represents the culmination of an international search for a CEO with the experience, capability and drive to lead the next phase of development and growth of Methven's international business. In David, Methven has secured a proven leader and business builder, driven to improve shareholder value through building effective high performing teams, consumer focused innovation and strong customer relationships.

As UK Managing Director of renowned water-filtering products brand, Brita, from 2000 to 2010, David oversaw significant sales and profit growth and the establishment of the Brita brand's UK market leadership in water filtration, including tapware and strategic partnerships with appliance categories. More recently, David led Brita's successful international growth strategy in new and emerging markets including in Europe, Asia and North America.

"Given the importance of Methven's international market success to driving growth in shareholder returns, we are delighted to have secured a new CEO of David's experience with a track record of building and growing a successful international brand in an industry, and in channels so relevant to Methven's premium shower and tapware business," says Phil Lough.

David Banfield is relishing the opportunity to lead the Methven business, saying:

"Having been approached to consider the opportunity of leading the Methven team, I immediately saw the synergies with my background - water, market geographies, customer proposition and the opportunities present in existing and new markets. Methven is a business with strong brand values, based on heritage, focused capability, leading-edge design, unique and patented technologies, market leadership and quality products that consumers love, such as Satinjet. Importantly, Methven's products also offer sustainability benefits that are demanded by consumers and customers worldwide. I have been impressed by the commitment and passion of everyone who I have met within the business and I am genuinely excited to lead the team and business on the next stage of its journey to be recognised as offering the ultimate showering experience."

T: Phil Lough +64 9 829 0419
E: lwilton@methven.net
W: www.methven.com

25th October 2013

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