John Bongard, chief executive of Fisher & Paykel Appliances, will retire at the end of 2009 for medical reasons. He has been with the company 36 years.
Separately, the company reported a profit loss for the year ended March 31, 2009. The appliances business revenue at $1.213 billion was down 4% compared to the previous period. The company said that appliances sales were essentially flat, with growth in Australia offsetting lower revenues in all other markets. In the second half of the financial year, appliance revenue decreased 5.4% due to a significant reduction in three major markets.
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