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Contact boss stays on board

By Phil Boeyen, ShareChat Business News Editor

Wednesday 30th May 2001

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Contact's (NZSE: CEN) acting chief executive, Stephen Barrett, is to take up the position on a permanent basis.

Mr Barrett took on an interim role leading the company last September, replacing former CEO Paul Anthony who left to work in the United Kingdom.

Mr Barrett was on secondment from California-based Edison Mission Energy, Contact's majority shareholder.

Chairman, Phil Pryke, says the board has been extremely pleased with Contact's continued development during Mr Barrett's time as acting chief executive.

He says a request last year to Edison Mission to consider making Mr Barrett available had been turned down, however the company had recently reassessed the issue, particularly in light of its recent move to a majority stake.

"During his period as acting chief executive, Steve has demonstrated sound leadership and put in place a range of key initiatives to strengthen still further the company's operations in New Zealand and Australia" says Mr Pryke.

"We are extremely pleased that he will stay on to oversee the next stage in the company's development, to the benefit of all of Contact's shareholders."

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