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Hallenstein's Quanchi resigns, tired of Tasman flights

Monday 15th September 2008

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Hallenstein Glasson Holdings's Melbourne-based chief executive Shayne Quanchi has resigned after less than a year in the role because the job required increasing amount of time to be spent in New Zealand.

"There has been an economic downturn on both sides of the Tasman which has made it necessary for us to focus on the New Zealand business," the engine room of the company, chairman Warren Bell said in a statement.

The company will begin a global search fro a successor. The shares fell 1.3% to NZ$2.96 and have dipped about 24% this year.

At the time of her appointment in January, Bell said keeping Quanchi in Melbourne "supports our determination to strengthen both our presence and position in the Australian market."

By Jonathan Underhill

  General Finance Advertising    

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