NZ Post CFO David Walsh gets the top job
David Walsh will take up the role of chief executive at New Zealand Post from May 1 as the state-owned enterprise shifts its focus away from traditional mail services that are facing shrinking revenue.
Walsh, who has been at NZ Post for two years as chief financial officer and provided executive leadership to the information technology function, replaces Brian Roche, chair Jane Taylor said a statement.
Prior to joining NZ Post, Walsh appointed as CFO at KiwiRail in 2004, before moving into the role of general manager, corporate & finance. Earlier in his career, Walsh spent time in the NZ Racing Board, Fonterra, TransAlta NZ and Shell NZ.
"The board feels that the momentum behind the transformation already underway at NZ Post will benefit from the continuity provided by having an internal appointment. David knows the company well, knows where we are heading and knows what we need to do to become a more customer-centric, service oriented business, enabled by our digital future," said Taylor.
NZ Post has been overhauling its businesses as the traditional postal services face a period of decline, and has launched new delivery options to keep up with increasing online shopping volumes, including parcel collect and drop-off at supermarkets, bookshops and pharmacies.
The Wellington-based state-owned enterprise sold 47 percent of its Kiwibank stake for $493.5 million in October 2016, which it used to repay $180 million of debt and make a $100 million dividend payment to the Crown, while also booking a $25 million gain.