16 Apr 2013

Macdonald appointed to NZ board

6:52 pm on 16 April 2013

The New Zealand stock exchange has appointed Trade Me's chief executive to its board, saying he will aid its focus on growing New Zealand's capital markets.

Jon Macdonald, who has worked for the online auction site since 2003, took over as chief executive in 2008 and oversaw its transition to a listed company.

NZX chairman Andrew Harmos said the board was keen to appoint someone with a technological focus after Rod Drury stepped down.

He says Mr Macdonald is involved in a company that is NZX listed, operates infrastructure, as the stock exchange does, and relies on technology excellence and technology as a competitive advantage.

"(Trade Me) is a user of social media and modern communication skills and has a demographic that is across the spectrum of New Zealand."

Mr Macdonald's appointment is subject to approval from the stock exchange's shareholders which will be voted on at its annual meeting early next month.