Fri 13 May 2011:
Sanford Loses a Stalwart
Sanford Limited advises that sadly, after a short illness, its Chairman Mr Bruce Cole passed away on 11 May 2011. We express our deepest sympathy to his wife Noel and family.
After an outstanding business career with L D Nathan, Bruce Cole was first elected a Director of Sanford Limited in 1987, became Deputy Chairman in 2004 and was elected Chairman in 2006.
During his Board tenure, shareholder value in the company has grown from $50m to over $500m and annual dividends have grown from $3m to over $20m. One of the strong attributes Bruce brought to the Board has been a focus on creating value for shareholders while at the same time retaining an industry focused growth strategy built on sustainable development. His contribution will be sorely missed.
Mr Jeff Todd (Deputy Chairman) has assumed the role of Chairman in the interim.
E F Barratt