Jasons CEO steps down to become National candidate

Joyce, who owns 11.5% of Jasons, will be a list candidate for National, which had 52% support in a Television New Zealand poll this month, versus the Labour Party's 35%.

The company is preparing to update shareholders at their annual meeting on Friday and Joyce says Jasons is "holding its own" in a tough market. He will stay on in at least a part-time capacity until a new CEO is found, in the run-up to the election.

Jasons' stock trades on the NZAX market, where it has declined 22% this year, more than the index's 20% decline. It was unchanged today at 75 cents.

The company last month reported net income in the 12 months ended March 31 rose 35% to NZ$982,000.

By Jonathan Underhill

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