By Alastair Bull of NZPA

Auckland, Aug 17 NZPA - An ongoing battle with prostate cancer has prompted Fisher & Paykel Appliances Ltd chief executive John Bongard to announce his pending resignation.

Mr Bongard today told shareholders at the company's annual meeting that he would be leaving the company, most likely in December.

His resignation comes after more than 35 years at the company, the last four as chief executive.

Mr Bongard said he underwent treatment for prostate cancer a year ago but continued to work hard since as the company found itself in need of a recapitalisation.

"I've been steadfastly ignoring my doctor's advice ever since -- he told me to slow down and maybe lead a less stressful lifestyle," Mr Bongard said.

"I saw him last week last week and was advised I'd better start listening to him because some of the results weren't as good as they should be, so I guess I'm doing what I'm told for a change.

"It's been a very awkward year. Two days after I was diagnosed we had to make the announcement of closing the factory down in Dunedin.

"It hasn't been a very pleasant ride through since then and I think that's exactly where my medical advice is coming from, that you need a bit of a break from continuous stress."

Mr Bongard has been with Fisher & Paykel since 1973. He became managing director of the company in 2001, when Fisher & Paykel Appliances and Fisher & Paykel Healthcare split, and chief executive in 2005.

"The day I joined was Guy Fawke's Day 1973. I remember that because it was my dad's birthday, and my mother told me I couldn't come home that night without a job.

"I haven't had a lot of time to reflect on it -- it will be 36 years with the company this Guy Fawke's Day -- but I feel quite satisfied. The amount of change I've seen in the business is unbelievable."

Some of the biggest changes have come in the last year, as the company shifted manufacturing plants to Asia as markets went down during the global recession.

The company subsequently asked for -- and received -- more backing from shareholders, and sold a 20 percent stake to Chinese appliances giant Haier.

"It's been a fantastic time for me. In some ways I feel quite contented in that we've got through what was a very important debt restructuring programme," he said.

"With the new relationship with Haier as our cornerstone investor I think that if you exempt the next few months, which I see as being really difficult ... I think that the relationship and the synergies that we have with Haier are absolutely fantastic and will put this company really on the front foot as markets improve."

Mr Bongard said he would enjoy summer but he wasn't sure what he would do next year.

He didn't imagine working for Fisher & Paykel again but could imagine himself as a director for it or another organisation, possibly one in sport, if asked.

"I'm not in a great hurry really. I haven't given it a lot of thought because it was only the middle of last week that I really had to take this decision."

Fisher & Paykel chairman Gary Paykel said there were some strong candidates from within the company to replace Mr Bongard but that it would also undertake an international search.

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