Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
Auckland International Airport, the country's main international gateway, has promoted its general manager retail and commercial Adrian Littlewood as its new boss.
Mr Littlewood will take over as chief executive on November 12, beating a "significant number of high-calibre applicants", the company says in a statement.
He joined the airport in 2009 and has grown the company's non-flight annual revenue to some $166 million, or 40% of total sales.
"I'm looking forward to leading the team to build on the recent growth delivered by the airport and meet the increased market expectations we face," Mr Littlewood says.
"We will continue to work closely with our partners in the tourism and trade sectors to make the most of the opportunities that exist as we move ahead to finalise our master plan of airfield, terminal and land development to meet New Zealand's needs."
Mr Littlewood succeeds Simon Moutter, who left to take the top job at Telecom, the country's second-biggest listed company.
Mr Littlewood previously worked at Telecom, where he was responsible for design, pricing and launch of consumer offers across mobile, broadband and landline portfolios.
The new chief executive will be paid a base salary of $725,000 with annual reviews, a short-term incentive of up to $435,000 per annum and an annual long-term incentive grant of 50% of salary if he meets certain targets.
Acting chief executive Simon Robertson will resume his role as chief financial officer after leading Auckland Airport during the interim period. He did not put his name forward for the top job.
The shares (NZX: AIA) fell 1.5% to $2.64 on Friday and have gained 4.8% this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Underwriter says Pacific Edge could reach $100m sales target quickly
- Accidental surplus on the way?
- Punter places huge bet on All Blacks just ahead of kick-off against Samoa
- New equity crowdfunding site to tackle high valuation problem
- Mega rids itself of TRS bad boy but another hurdle remains before NZX listing