Z Energy has appointed a new chair, Abby Foote, who will take over from Peter Griffiths when he steps down in May after the company’s financial results for the March year have been completed.
Foote joined the board in 2013 and has more than 12 years’ governance experience at publicly listed and government-owned companies including national electricity grid operator Transpower and at Diligent.
She currently sits on the boards of Freightways, Sanford, TVNZ and Museum of New Zealand Te Papa Tongarewa.
Griffiths, who has chaired Z since Infratil and the New Zealand Superannuation Fund bought the Shell retail assets in 2010 and guided it through its 2013 float, says chairing the company has been “a fantastic experience.”
Z Energy “has a very capable and energised board which I am confident will continue to provide strong leadership and governance with Abby as its new chair,” he said.
Z said its board used an external consultancy to provide independent advice and review of the internal appointment to ensure Foote has the requisite skills, leadership competencies and industry knowledge to support the company’s future strategic needs.
The shares last traded at $6.09, and have dropped 13 percent over the past 12 months.