NZ Windfarms commercial director John Worth to head company

Mr Worth's appointment has a background in development and energy and was previously the general manager of investment and development at Auckland Transport.

NZ Windfarms said its newly appointed commercial director John Worth will assume full responsibility for the company's daily operations, taking over from acting chief executive Stuart Bauld.

Bauld, a director of the company, stepped into the role on October 31 following the resignation of then chief executive Chris Sadler. Mr Worth will take over from Mr Bauld at the close of business on March 24, NZ Windfarms said in a statement today.

"The chairman and board thank Stuart for his exceptional leadership through the reshaping of the leadership team and in contributing to the commercial repositioning of the organisation," the company said.

Mr Worth's appointment was announced earlier this week. He has a background in development and energy, and was previously the general manager of investment and development at Auckland Transport and earlier held senior roles at Mighty River Power. He has extensive experience in energy development including wind power in the Manawatu, having successfully secured consents for the 326MW Puketoi project in 2013. A chartered professional engineer, he holds undergraduate and masters degrees in engineering and management alongside a post-graduate qualification in strategy and innovation from Oxford.

Chairman Rodger Kerr-Newell said Mr Worth's appointment forms an important step in the plan outlined at the company's 2016 annual meeting of shareholders to review and re-shape the company and the way it does business.

NZ Windfarms shares last traded at 8c and have lost 11%  of their value in the past 12 months.