Port Nelson CEO Martin Byrne to Stand Down

New Zealand's Port Nelson chief executive Martin Byrne has announced he will stand down from his position at the end of September.

Byrne commenced the role in January 2004 and has led the organisation through the last 15 years.

Over that period cargo volumes have grown from 2.45 million Revenue Tonnes (RT) in 2003 to 3.6 million RT in 2018, container volumes from 44,632 to 121,483 TEU and revenue from $25.4 million to $67.2 million.

During the period from 2004-2018 total funds returned to shareholders by way of annual dividends, special dividends and a share buyback in 2007 equated to a total $106 million or an average of just over $7 million per annum.

While the Board is disappointed to see  Byrne depart Port Nelson,  the Chairman Phil Lough, said they could proudly reflect on the significant growth, profitability and strong leadership culture that has developed during his time as CEO.

Highlights of Byrnes tenure Lough said included "building the management team, improved reporting to shareholders, adapting the business model to meet changing conditions, improved governance and the establishment of innovative strategies to get closer to customers."

While  Byrne indicated he has made no firm commitments on his next role at this time, his main focus will be around looking at potential Governance opportunities which he hopes to firm up over the coming months.

According to Lough, Port Nelson will look to commence the recruitment process for a replacement soon, with the hope of having someone in place prior to the end of September. He believed the role would be a highly attractive one to potential candidates.