Power company Meridian Energy has appointed insider Neal Barclay as its new chief executive.
Mr Barclay replaces Mark Binns, who retires after five-and-a-half years in the job.
Mr Barclay has been with the company since 2008 and has held several roles in that time, including chief financial officer and more recently retail general manager.
Chair Chris Moller said Mr Barclay was the right candidate.
"This breadth of experience, not only in the New Zealand electricity industry, but across all of Meridian's main activities, together with the leadership and competence he has brought to all of his previous roles, made Neal the standout candidate to be appointed Meridian's new CEO," he said.
Mr Barclay said he had been eyeing the top job for years and would replace Mr Binns at the end of the year.