Genesis Energy Chief Executive Signals Departure

Media Release

Genesis Energy Chief Executive Signals Departure Next Year

The Chief Executive of Genesis Energy, Murray Jackson has signalled he will leave the company in August next year at the end of his contract term.

The Chairman of Genesis Energy, Brian Corban said that Mr Jackson had led the company from its inception in 1999 and had grown the company to become New Zealand’s largest energy retailer with more than 700,000 gas and electricity customers compared to 155,000 at its inception

“Murray is a strong and decisive leader who has inspired his management team to make a significant contribution to the New Zealand energy sector,” Mr Corban said. “When Genesis was formed it was a minnow in the sector and operating in a challenging post-reform environment. It is now not only New Zealand’s largest energy retailer but also its third largest generator with the most diverse range of generation. That is a credit to Murray’s leadership abilities and his 40 years of experience in the sector.”

Mr Corban said that the Board had just been advised of Mr Jackson’s decision and would make an announcement about the way forward after its next Board meeting. He said the Board appreciated that Mr Jackson had advised it of his intention to leave well in advance of his departure next August as this would allow a smooth transition.

Mr Jackson said today he felt the timing was right to leave Genesis Energy, with the business performing well and he was looking forward to the next stage of his career.

“I am not ruling out another CEO role if the right challenge arises,” he said. “I am equally interested in pursuing directorships or management consulting roles.”

ENDS

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