Port of Tauranga announces changes to Board of Directors
The Chairman of Port of Tauranga Limited, John Parker, today announced that he will retire from the Board at the Annual Meeting on 24 October 2013, said in the company's press release.
David Pilkington, who has been a Director of the Company since 2005, will replace John as Chairman and as a consequence of John's retirement from the Board, Kim Ellis has been appointed as an independent Director with immediate effect.
"I have been a Director of Port of Tauranga for 17 years and Chairman for nine, and it's probably too long" said Parker, "but chairing a company with such a good Board and management has been a privilege and a pleasure. I retire knowing that the Company is in very good hands. David Pilkington is a very experienced Director and currently Chair of Hellers, a Director of Restaurant Brands, Ballance Agri-Nutrients and Zespri. Kim Ellis brings a depth of experience to the Board. He was for 13 years Chief Executive Officer of Waste Management. He Chairs EnviroWaste Services and is a Director of Freightways, Ballance Agri-Nutrients, Moa Brewing and Fonterra Shareholders Fund."
Port of Tauranga has grown over the past 17 years from a market capitalisation of $108 million to $2 billion and in the 20 years since listing, the growth has been spectacular with shareholders receiving a 24% average annual return on their investment.
