Mercury NZ (NZX:MCY) new executive structure to come into effect from next month

Summary

  • Mercury NZ recently announced changes and additions in its executive structure.
  • While a few roles were added and a few dismissed, there are currently 7 executive roles that will report directly to the CEO.
  • The changes made are said to be to further streamline the management to ensure growth and development of the Company in the future.

Dual listed stock Mercury NZ Limited (NZX:MCY, ASX:MCY), the electricity generator through fully renewable energy (hydro and geothermal) has recently announced changes in its management structure. There has been an announcement of seven executive roles that will be directly reporting to the CEO.

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What’s in what’s out?

Besides, the current roles of Chief Marketing Officer, Chief Financial Officer and the General Manager People and Performance; there will be an introduction of roles such as General Manager Portfolio, General Manager Generation, General Manager Customer as well as General Manager Sustainability.

The roles that got discontinued are General Manager Hydro/Wholesale, General Manager Corporate Affairs, General Manager Geothermal and Safety and General Manager Retail and Digital.

The people who are confirmed in these new roles are Marlene Strawson-General Manager People and Performance, Julia Jack the Chief Marketing Officer, William Meek, the Chief Financial Officer, Phil Gibson as the General Manager Portfolio.

There are still recruitments underway for the roles of General Manager Generation, General Manager Customer, as well as General Manager Sustainability.

It was further announced that this new executive structure will be put to action from 2 February 2021.

Also read: Drought conditions keep Mercury NZ Limited’s (NZX: MCY) hydro generation low

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Word from the CEO

Vince Hawksworth, the CEO for Mercury NZ had joined office in March last year, just ahead of the first COVID-19 related lockdown. He reveals how he had spent the past year getting to know about the Company and collaborated with the executive team in order to develop future plans to help achieve the business’ future vision.

He was of the view that this is the correct time to make changes in the team structure to ensure success for the brand in the near future.

He said he was committed to making the necessary changes and believed it to be the right thing to do for the Company, the partners/owners as well as for the clientele.

The current General Manager Corporate Affairs Tony Nagel, General Manager Retail and Digital Kevin Angland and General Manager Geothermal and Safety Nick Clarke have decided to step down from their respective positions in Mercury NZ, as part of the transition.

Mr Hawksworth thanked them for their outstanding contribution to the company over a joint span of 27 years. He further went on to describe how the work done by these gentlemen had taken the Company’s geothermal capacity, stakeholder relationships and digital capabilities to the next level.

He wished them luck for their future endeavours while thanking them for the commitment they had towards the Company for years.

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