The former Carter Holt Harvey executive chairman Sir Richard Carter has died aged 75.
He was the great grandson of the New Zealand lumber giant’s founder, Francis Carter, and the third generation of the family to head the business.
According to a report in the New Zealand Herald, Sir Richard died from complications following a stroke.
Son-in-law Rick Mannering was quoted as saying the family and company were “saddened by his loss” .
Sir Richard was was born in Palmerston North and graduated from the University of Auckland in 1958 with a degree in accountancy.
In 1971 the family forestry and timber firm, Carter Consolidated, merged with sawmiller Holt to form Carter Holt Holdings.
Under Sir Richard, 14 years later the new business joined Alex Harvey Industries and became one of New Zealand’s biggest businesses, Carter Holt Harvey.
Another former chairman, John Maasland, said his predecessor was a “great entrepreneur” who took risks that paid off. These included the acquisition of COpec, a Chilean fisheries and forestry firm that was eventually sold in 1999 for NZ$2.5bn.
The Rank Group bought Carter Holt Harvey in 2006 for NZ$3.3bn.
