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Acting Chief Executive Appointed to lead Powerco

Friday, March 18, 2011

Powerco Chairman Rick Bettle has announced the appointment of Nigel Barbour as Acting Chief Executive Officer to replace out-going Chief Executive Richard Krogh, who last year announced he was stepping down in 2011.

Mr Bettle said the appointment would take effect from 21 March.

Mr Bettle said it was pleasing that the appointment has been made from within Powerco and Mr Barbour brings with him extensive experience in the energy industry. Mr Barbour currently holds the role of General Manager Electricity and has previously held Executive level Commercial and Corporate roles within Powerco. Mr Barbour has an economics and legal background and has previously held roles with Transpower and Bank of New Zealand.

Mr Bettle said the Board of Directors wished to acknowledge the contribution of outgoing Chief Executive Richard Krogh who had been with Powerco and its predecessor companies for more then 17 years and led the company since August 2005.

"Richard has made a tremendous contribution to Powerco during his tenure and leaves the Company in a very good shape for the incoming Chief Executive. The Board wishes to thank Richard for his contribution and wish him and his family all the best for the future."

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