Acting Group Chief Executive Appointed At NZ Post

5 June 2009

Acting Group Chief Executive Appointed At New Zealand Post

Sam Knowles, currently Kiwibank Chief Executive, will be appointed Acting Group Chief Executive of New Zealand Post Group from 1 July, Chairman Rt Hon Jim Bolger announced today.

Mr Bolger said Mr Knowles would hold the position pending the outcome of a search for a permanent replacement to former Group Chief Executive John Allen, who is to become the Chief Executive and Secretary of Foreign Affairs and Trade.

Mr Knowles has been Chief Executive of Kiwibank for eight years and is a member of the New Zealand Post Group Executive Team.

“I am delighted that Sam has agreed to step into the role in an acting capacity while recruitment is undertaken. Sam has informed the Board that he will not be applying for the Group Chief Executive role. His support through this period of change will enable a smooth leadership transition pending a permanent appointment.”

Mr Bolger hoped the Board would be in a position to make a permanent appointment to the Group Chief Executive role by September.

“Paul Brock, currently Kiwibank General Manager Savings and Transactions will take up the role of Acting Chief Executive at Kiwibank until Sam’s return to the Bank.”

Mr Bolger also said that for some time the Group’s Chief Financial Officer Peter Schuyt had been discussing with him his wish to focus on an increasing portfolio of governance roles outside of the Group.

“This regrettably means that Peter will be formally leaving his role at the end of August. We will appoint an Acting Chief Financial Officer to work alongside Peter to support a seamless transition of responsibilities and to support the arrival of a new Group Chief Executive. Peter’s commitment to ensure we are well placed for change is appreciated. The date of Peter Schuyt’s departure will be determined as events unfold.

“Peter has been a key player in the development of the company's diversification and growth strategy, which has included the establishment of our joint ventures with DHL in New Zealand and Australia. He has applied considerable skill to the financial management of this complex organisation and has ensured the business has a strong balance sheet and is in good financial shape for the future. He has made an excellent contribution to the Group.”

ENDS

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