Ann: OFFICE: HBY: Hellaby Holdings Ltd - MD to step down in six months

• Release Date: 17/04/15 08:38
• Summary: OFFICE: HBY: Hellaby Holdings Ltd - MD to step down in six months
• Price Sensitive: No
• Download Document  3.15KB

					HBY
17/04/2015 08:38
OFFICE
PRICE SENSITIVE
REL: 0838 HRS Hellaby Holdings Limited

OFFICE: HBY: Hellaby Holdings Ltd - MD to step down in six months

Hellaby Holdings Limited today advised that its Managing Director John
Williamson intends to step aside at the company's Annual Meeting in October
this year.

Hellaby Chairman Steve Smith said that while the board would be sad to lose
Mr Williamson, the company was in good shape to transition through new
leadership.

"The board is fully committed to Hellaby's growth strategy, and we'll be
starting the search immediately to find a new leader to steer the company
through its next growth phase. We also have an excellent management team and
capable divisional leaders, who will continue to drive the company while we
move from one chief executive to another.

John will be leaving the company in very good shape.  It has a clear
strategic framework with robust investment criteria and processes.  Hellaby
is now a different company to the one John inherited, and that good work will
continue."

Mr Smith said that the company would continue to actively pursue growth
opportunities and was confident of announcing some new initiatives in coming
months.

Mr Williamson said that after eight years at the helm, the time was right to
seek new business challenges and opportunities.
"Since I started in 2007, the company has undergone a significant turnaround
and we've put in place a strong growth strategy.  In the past five years our
profits have more than doubled, and in our two most recent profit
announcements we posted record operating earnings.  I have recently started
to consider what the next challenge might be for me personally, and I believe
now is a good time for a managed handover to a new leader."

ENDS

For further information please contact

Steve Smith
Chairman
M +64 21 791 342

John Williamson
Managing Director
T +64 9 307 6844
M +64 21 271 4960
www.hellabyholdings.co.nz

Hellaby at a glance

Hellaby Holdings is an NZX-listed investment holding company, which owns a
diversified portfolio of 15 industrial, distribution and retail businesses.

Our vision is to be a leading Australasian investor, based on the value we
add to our portfolio, the returns we deliver to our shareholders and the
calibre of our people.

Hellaby's core purpose is to generate long-term shareholder value by building
better businesses. We achieve this through a combination of performance
improvement and organic growth in the businesses we own, as well as smart
acquisitions and divestments. We describe this strategy simply as 'Buy,
Build, Harvest'.

Our investment portfolio is structured through five divisions - Oil & Gas
Services, Automotive, Equipment, Packaging and Footwear - with 3,000 people
across New Zealand, Australia, Middle East and North America. We have a
variable investment horizon, and our portfolio will evolve as opportunities
arise in target investment areas.

We actively manage our investments through a lean corporate office, and
decentralise leadership and performance accountabilities to our companies.

We seek to generate total shareholder returns superior to the NZX50.
End CA:00263219 For:HBY    Type:OFFICE     Time:2015-04-17 08:38:59