17 Apr 2015

Hellaby MD steps down

2:39 pm on 17 April 2015

The head of Hellaby Holdings is stepping down after eight years on the job.

business profit loss

business profit loss Photo: 123rf

The managing director, John Williamson, said he'll be leaving Hellaby at the October annual meeting.

Mr Williamson said he was looking for new challenges and opportunities, after leading the diversified investment company through a signficant turnaround, with the company achieving record profit growth in the past two financial periods.

"Since I started in 2007, the company has undergone a significant turnaround and we've put in place a strong growth strategy.

"In the past five years our profits have more than doubled, and in our two most recent profit announcements we posted record operating earnings. I have recently started to consider what the next challenge might be for me personally, and I believe now is a good time for a managed handover to a new leader," Mr Willamson said.

The board chair, Steve Smith, said the company was fully committed to Hellaby's growth strategy, and will begin the search for a new leader to steer the company through its next growth phase.

"John will be leaving the company in very good shape. It has a clear strategic framework with robust investment criteria and processes.

"Hellaby is now a different company to the one John inherited, and that good work will continue," he said.

Hellaby's share price fell over 2 percent, or 7 cents to $3.20, Friday morning.

Get the new RNZ app

for ad-free news and current affairs