Port of Tauranga chairman retires in October after 17 years as a director

David Pilkington, a director of the company since 2005, will replace John Parker.

Port of Tauranga chairman John Parker will retire in October after nine years leading the board and 17 as a director of the country's biggest export port.

David Pilkington, a director of the company since 2005, will replace Mr Parker while former Waste Management chief executive Kim Ellis has been appointed an independent director.

During Mr Parker's tenure as a director, the port company has grown its market capitalisation to $2 billion from $108 million.

Shares in Port of Tauranga rose 0.2 percent to $14.38, making it the highest price for a New Zealand company on the nation's exchange.

The stock has gained 9 percent this year.

(BusinessDesk)