24 Feb 2015

Business Briefs

1:20 pm on 24 February 2015

GeoOp elects new CEO

GeoOp said Anna Cicognani will take over as its acting chief executive after Ben Foote decided not to take up the job.

The software company has been without a chief executive since September, when Leanne Graham stepped down to lead GeoOp's efforts to develop a United States-based market.

The chair, Mark Weldon, said Mr Foote is unable to take up the position, due to unforeseen family circumstances.

Ms Cicognani takes over next week and will be based in Sydney.

NZ Windfarms report profit

New Zealand Windfarms has made a net profit of $40 million in the six months to December.

That's a turnaround from the $1.2 million loss in the same period a year earlier.

Revenue rose 26 percent to $4.9 million.

HSBC profits slump

HSBC has reported a 17% drop in annual profit to $18.7 billion US.

The bank says that's due to $2.4 billion in fines and settlements.

The results follow allegations that HSBC helped people evade paying tax by using hidden accounts in Switzerland.