Shipley leaves Genesis ‘strongly positioned’
Former prime minister Dame Jenny Shipley is stepping down as chair of Genesis Energy, after nine years.
She announced her intention to resign at the annual shareholder meeting in October.
Shipley will be replaced by former ASB chief executive Barbara Chapman, who joined the Genesis board this year.
‘‘Barbara represents the next generation of leadership required in the energy sector and has the skills and experience to provide the step-change required at this point in the company’s transformation,’’ Shipley said.
‘‘Barbara brings a wide range of experience around product and market innovation and is widely recognised for her strong leadership style, her commercial credentials and her commitment to diversity.’’
Shipley said her role had been rewarding, and covered a period of significant change.
‘‘Highlights include successfully overseeing the acquisition of Tekapo hydro assets, the improved relationship with iwi in regions where the company generates electricity, and the transition of Genesis from a stateowned enterprise through the initial public offering in 2014 to the strong-performing mixed-ownership listed company that it is today,’’ she said.
‘‘Having also managed the transition between chief executives and having oversight of two recent important M&A [merger and acquisition] transactions in 2016 and 2017, I feel I am leaving the business strongly positioned for future success.’’
Genesis had a ‘‘great depth’’ of experience among its top ranks.
Associate Professor Ljiljana Erakovic, of the University of Auckland’s business school, said Shipley had shown a comprehensive understanding of the energy sector, which had helped to drive her success.