NZSE boss to stand down

By Phil Boeyen, ShareChat Business News Editor

Wednesday 16th January 2002

The New Zealand Stock Exchange is looking for a new chief following managing director Bill Foster's decision to step aside from his current role.

NZSE chairman, Simon Allen, says the board has accepted Mr Foster's decision and feels the timing is appropriate, given the strong position the NZSE has established since his appointment.

"Demutualisation involved a new board, and new governance. Bill has recognised that the ideal time to appoint his successor is this year when the NZSE is performing well, significant changes are being made, and he can provide the necessary continuity in the transition".

Mr Allen says the announcement is being made now so that a search for a replacement can start immediately. He expects considerable interest in the key role.

Mr Foster says he is committed to continuing his role in taking the exchange through demutualisation this year and building the necessary strength in the organisation to be ready for listing. He will continue to represent the NZSE on the World Federation of Exchanges.

Comments from our readers

No comments yet