Eastland Group chair to step down

Company seeks new chair.

Company seeks new chair.

GISBORNE-BASED regional infrastructure and electricity distribution, transmission and generation company Eastland Group ​is looking to replace its chairman, for the first time in eight years.

After heading the Eastland Group board since 2009, chairman Nelson Cull will step down following the company’s annual meeting in August.

“It has been a privilege to be chairman during a period of strong, sustained development and growth for the region’s infrastructure company”, he said.

“This is a complex, challenging role and one that has been a highlight of my career.

“I would like to acknowledge my fellow directors, chief executive Matt Todd and his team for their exceptional work during my time with Eastland Group,” said Mr Cull.

During his tenure, community-owned Eastland Group Limited was formally established as the parent company of all the businesses within the group.

Record profits were achieved, growing from $5.6 million in 2010 to $15.2 million for the year ended March 2016.

Record dividends were paid to sole shareholder Eastland Community Trust.

Group chief executive Matt Todd thanked Mr Cull for his input into the strategic direction and success of Eastland Group.

“We’ve worked closely together for a number of years, and Nelson has led the board with commitment, insight and integrity,” said Mr Todd.

“His depth of experience, particularly in the local and international oil industry, has greatly benefited the company and the region as a whole.”

Eastland Group owns lines company Eastland Network, as well as Eastland Port and geothermal power plant operator Eastland Generation.

It is also operates Gisborne Airport and is the major shareholder in electricity retailer Flick.

Eastland Community Trust, which owns Eastland Group, is responsible for appointing the group’s board of independent directors.

ECT chairman Michael Muir praised the “huge” contribution made by Mr Cull and added that ECT would be “carefully considering” its options before appointing a successor.

GISBORNE-BASED regional infrastructure and electricity distribution, transmission and generation company Eastland Group ​is looking to replace its chairman, for the first time in eight years.

After heading the Eastland Group board since 2009, chairman Nelson Cull will step down following the company’s annual meeting in August.

“It has been a privilege to be chairman during a period of strong, sustained development and growth for the region’s infrastructure company”, he said.

“This is a complex, challenging role and one that has been a highlight of my career.

“I would like to acknowledge my fellow directors, chief executive Matt Todd and his team for their exceptional work during my time with Eastland Group,” said Mr Cull.

During his tenure, community-owned Eastland Group Limited was formally established as the parent company of all the businesses within the group.

Record profits were achieved, growing from $5.6 million in 2010 to $15.2 million for the year ended March 2016.

Record dividends were paid to sole shareholder Eastland Community Trust.

Group chief executive Matt Todd thanked Mr Cull for his input into the strategic direction and success of Eastland Group.

“We’ve worked closely together for a number of years, and Nelson has led the board with commitment, insight and integrity,” said Mr Todd.

“His depth of experience, particularly in the local and international oil industry, has greatly benefited the company and the region as a whole.”

Eastland Group owns lines company Eastland Network, as well as Eastland Port and geothermal power plant operator Eastland Generation.

It is also operates Gisborne Airport and is the major shareholder in electricity retailer Flick.

Eastland Community Trust, which owns Eastland Group, is responsible for appointing the group’s board of independent directors.

ECT chairman Michael Muir praised the “huge” contribution made by Mr Cull and added that ECT would be “carefully considering” its options before appointing a successor.

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