The Dunedin City Council plans to do away with the job of chief executive of its holding company in a bid to get more control over the council asset.
In 2012, the council faced a financial shortfall of more than $4 million, partly due to the dividend from subsidiary company Dunedin City Holdings being less than expected.
Council chief executive Paul Orders has announced a new management structure which will result in the elimination of the position of chief executive of Dunedin City Holdings.
The council's role of chief financial officer, which is currently vacant, will be expanded to include oversight of the holding company.
The holding company's current chief executive, Bevan Dodds, has not been able to be reached for comment on whether he will apply for the new role.
The change is expected to save the council about $100,000 a year.