Skellerup taps Coutts as chair

Liz Coutts has taken over as chairwoman of industrial rubber goods maker Skellerup Holdings, with Selwyn Cushing stepping down after 10 years in the role.

Coutts has been on the board since 2002 and chairs Skellerup’s audit and risk management committee. She is also chairwoman of Oceania Healthcare, Ports of Auckland and fishing company Urwin & Co, and is a director of Ebos Group, Sanford, Yellow Pages and Tennis Auckland.

“Selwyn has been an outstanding chairman . . . His are big shoes to fill.” Liz Coutts

Cushing remains one of the company’s six directors and Skellerup’s largest shareholder, Coutts said.

“Selwyn has been an outstanding chairman,” Coutts said. “Under his leadership, Skellerup has greatly improved its performance to deliver shareholders consistent financial results, a robust financial position and increased dividends. His are big shoes to fill.”

Last October, Skellerup said it expected annual profit to rise as much as 7 per cent to between $20 million and $22m, recovering from the prior year’s decline, as it put greater emphasis on potable water applications and food safety.

Skellerup’s 2016 earnings were hit by a downturn in demand from its agricultural business.

The company’s shares closed unchanged yesterday at $1.55.