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- Release Date: 27/03/13 10:56
- Summary: OFFICE: MRP: Board confirms Chief Executive's contract through to FY2014
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MRP
27/03/2013 08:56
OFFICE
REL: 0856 HRS Mighty River Power Limited
OFFICE: MRP: Board confirms Chief Executive's contract through to FY2014
The Board of Directors of Mighty River Power has today confirmed the
extension of Chief Executive Doug Heffernan's tenure through to 31 August
2014, covering the full 2014 Financial Year and Results.
Mighty River Power Chair, Joan Withers, said the Board was pleased to be able
to confirm that Dr Heffernan would remain in the Chief Executive role until
that date. The Board had previously announced a variation to Dr Heffernan's
contract which created a fixed term to either 31 December 2013 or, at the
Board's option, to 31 December 2014 for which a retention payment was
payable.
"We are fortunate that Doug, our CE since the Company's formation in 1998,
has committed through to the finalisation of the accounts to the end of
FY2014 - a period in which there will be a lot of eyes on Mighty River Power
and our performance.
"This provides the Board with certainty and the ability to plan for the
succession process and appointment of a new Chief Executive to take us
through what will be a key phase in the further evolution of Company."
Mrs Withers said the Board had put considerable thought into succession
planning and the recruitment process was expected to begin in late 2013.
ENDS
End CA:00234589 For:MRP Type:OFFICE Time:2013-03-27 08:56:18
