Stuart Broadhurst has been appointed as a Chief Executive and Managing Director of the whiteware manufacturer Fisher & Paykel Appliances Holdings. Broadhurst is currently working as Chief Operating Officer with the firm. Broadhurst has a chance to work with new Chairman Ralph Waters who assumed the charge after the retirement of Gary Paykel last month. Mr. Waters said in a statement, "The search for a new CEO has been international, thorough and consider. Stuart was a very strong internal candidate and he was our unanimous decision." 43 year old Broadhurst is expected to draw earning up to $1.22 million a year including base salary and incentives. Chairman Ralph Waters added that his elevation would see the company expanding its operations in Thailand and Mexico to a world class standard. F&P Appliances suffered major losses under the impact of global slowdown. The company sold shares at deep discount to address its financial needs and further strengthening its balance sheet. Haier got 20 per cent holding and found place in its board as a result of offering made by F&P Appliances and got access to the Chinese market for increasing its geographical presence in the country.