Source: Radio New Zealand
NZX Chief Executive Mark Peterson. (File photo) RNZ / Dom Thomas
The New Zealand stock market is yet to appoint a permanent replacement to take over from the long-serving chief executive Mark Peterson, who departs at the end of the month.
“The process for CEO recruitment is well advanced and the Board is taking the necessary time to ensure we find the right candidate for what is a demanding role requiring a broad range of skills and domain knowledge,” chairperson John McMahon told shareholders at this morning’s annual meeting.
“There are also a number of exchanges looking for a chief executive at the moment.”
Among them was Australia’s ASX, after its chief executive Helen Lofthouse announced in February she would step down at the end of May.
Still, it had been been 10 months since Peterson announced he would step-down.
The board announced chief financial and corporate officer Graham Law would take over in an acting capacity until the board can find a permanent replacement.
“The Board’s message to shareholders is that whoever is appointed as CEO will continue to deliver and evolve the agreed NZX growth strategy which is working and gaining strong momentum,” McMahon said.
The outlook
He said the current financial year saw a strong start to the year, though there had been a softening in global market asset prices and capital markets activity following the start of the war in Iran.
“Despite present global market asset prices and capital markets activity levels, we are maintaining our operating earnings guidance range of $53.0 million to $58.5 million, which is subject to the usual market risks and outcomes,” McMahon said.
“If global market asset prices and capital markets activity levels remain at current levels across the rest of 2026, then our operating earnings would be towards the lower end of this range.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
