Infratil chairman David Newman takes medical leave of absence

Infratil chairman David Newman has stepped down from the board of the infrastructure investor for a period of medical leave.

Infratil [NZX: IFT] chairman David Newman has stepped down from the board of the infrastructure investor for a period of medical leave.

Newman, who has been chair since 2004, will also take a leave of absence of Wellington International Airport, where he is also chairman, and from his director's role at Infratil Airports Europe, the company said in a statement. He has been a director at Infratil since 1994, the year the infrastructure investor was listed by late founder Lloyd Morrison.

This week brokerage First NZ Capital said Infratil's stock was undervalued after the company's selldown of its stake in Z Energy, resuming coverage with an 'outperform' rating.

The shares rose 0.4 percent to $2.51 yesterday, and have climbed 11 percent this year.

(BusinessDesk)