Marsden Maritime CEO Graham Wallace to leave at end of month
By Paul McBeth
March 7 (BusinessDesk) - Marsden Maritime Holdings chief executive Graham Wallace will step down from the Northport shareholder at the end of the month, ending almost six years in the job.
Chair John Goulter said Wallace told the board he plans to leave on March 31, and the company's directors will start looking for a replacement.
"Graham has held the position of CEO for nearly six years and has played a pivotal role in seeing the company expand and develop during the period of his tenure," Goulter said.
Wallace took up the position in 2012 on an interim basis before being confirmed permanent CEO, having worked alongside the company in a variety of finance roles for 18 years.
During his tenure in charge, the company rebranded from Northland Port Co in 2014 to reduce the confusion between its operations and that of the Marsden Point-based Northport.
Marsden Maritime's shares were trading at $2 when Wallace was appointed interim CEO in May 2012, and have climbed to $5.60, a gain of 180 percent. Over the same period, the S&P/NZX All Index rose about 89 percent.