Sir Robert McLeod KNZM, Chair of Quayside Holdings Limited, has announced he will not seek an extension of his term as Chair, concluding his tenure on 31 October 2023.
Sir Rob was appointed to the Quayside Board in November 2016, becoming the Chair in November 2017. Over the course of the last seven years, Sir Rob has steered Quayside’s exceptional growth and maintained its reputation as an outstanding investment entity.
As a past and present Board member of an array of pre-eminent NZ entities, Quayside has significantly benefited from Sir Rob’s expertise in governance, renowned tax expert and former CEO with Quayside’s non-port assets increasing from $147 million (June 2017) to $480 million (June 2022), with total assets doubling from $1.6 billion to $3.2 billion.
Furthermore, Quayside’s dividend paid to the Bay of Plenty Regional Council (BOPRC) has grown from approximately $20 million to an expected $42.4 million in June 2023. The magnitude of Quayside’s positive impact under Sir Rob’s direction cannot be understated, with total dividends paid to the Regional Council growing from $225 million in June 2017 to a forecast $430 million in June 2023.
BOPRC Chair, Doug Leeder, acknowledges Sir Rob’s exceptional contribution over the last seven years, stating “the hallmarks of Sir Rob’s tenure are significant – Quayside has sustained remarkable growth under his governance, with an unwavering commitment to delivering benefits to the wider Bay of Plenty community, culminating in a $42 million plus dividend for the Regional Council which has allowed us to continue to deliver to our communities.”
Sir Rob says “it has been a privilege to serve the stakeholders of Quayside starting with its shareholder, the BOPRC, the staff and Board, suppliers and the Bay of Plenty community, including iwi. I have enjoyed working with, and learning from, all these stakeholders and I wish them all every success in the future.”
The Bay of Plenty Regional Council, as 100% shareholder of Quayside Holdings Limited, will now undertake a process for appointment of an independent Chair over the coming months.
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14 March 2023