Australasian auto company Bapcor
(ASX:BAP) has gained control of New Zealand company Hellaby Holdings and installed four new directors.
Bapcor’s CEO Darryl Abotomey will become the Chairman of Hellaby’s board.
The other new Hellaby appointments include Gregory Fox as CFO, Matthew Cooper as general manager of strategic business development and Margaret Haseltine as an independent director.
Alan Clarke will remain Hellaby’s managing director and CEO to assist with the change of ownership.
In addition, Bapcor says it intends to sell Hellaby’s businesses in resources, footwear and equipment.
Bapcor posted a net profit of $43.6 million at 30 June 2016.
