NZX Announcement
15 June 2017
For Immediate Release
NZ WINDFARMS COMPLETES ORGANISATIONAL RESTRUCTURE, REALISES SAVINGS AND
CONFIRMS CEO AND FINANCIAL CONTROLLER ROLES
NZ Windfarms has completed an organisational restructure. The restructure
resulted in a 20% reduction in headcount, saving over $200k per annum.
A structural review was completed in 2016, and commenced with the
disestablishment of the CEO and CFO and their replacement with a Commercial
Director. Ex Mighty River Power executive John Worth fulfilled this role in
March.
In recent weeks further restructuring has been carried out across the
business. Three technical roles have been disestablished as the organisation
starts to realise savings from operational strategies focused on turbine
curtailment recently rolled out. Worth noted that optimising turbine
operations was already reducing mechanical component failure, with
corresponding lower labour demands.
NZ Windfarms Board Chairman Rodger Kerr-Newell said that the restructuring
was part of the Board''s commitment to reshaping the organisation to position
it optimally. He also noted the reshaping of the Commercial Director''s role
into that of Chief Executive Officer, and the creation of a Financial
Controller role which has been filled internally by Alison Angove. "As our
business evolves it is important that the organisation''s leadership is
correctly configured. We''re moving at speed, and we''re very pleased with
John''s progress as he leads the business forward," said Kerr-Newell. He
noted that the organisation was well positioned with real talent in key
roles.
For further information contact:
John Worth
CEO
+64 21 800 310
End CA:00302627 For:NWF Type:GENERAL Time:2017-06-15 16:39:20