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Hellaby taps John Maasland as chairman, replacing Falconer

Friday 6th November 2009

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Hellaby Holdings Ltd, the diversified investment group whose shares have recovered from the record low reached in March, named John Maasland as chairman, effective immediately.

The seasoned director, whose roles have included the chair of Auckland International Airport, Carter Holt Harvey and New Zealand Radio Network, replaces Bill Falconer, who retired at the company’s annual meeting yesterday after 14 years in the job. Maasland has been a director of Hellaby since 2008.

With Falconer’s departure, Hellaby’s board shrinks to a managing director and five non-executive directors.

The shares fell 0.6% to $1.63 and have soared 181% in the past six months.

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