After heading up the Eastland Group board since 2009, chairman Nelson Cull has decided not to seek reappointment for another term. He will officially step down at the AGM in August.
“It has been a privilege to be chairman during a period of strong, sustained development and growth for the region’s infrastructure company,” said Mr Cull today.
“This is a complex, challenging role and one that has been a highlight of my career. I would like to acknowledge my fellow directors, Chief Executive Matt Todd and his team for their exceptional work during my time with Eastland Group.”
During Mr Cull’s tenure, Eastland Group Limited was formally established as the parent company of all the businesses within the Group. Record profits were achieved, growing from $5.6 million in 2010 to $15.2 million for the year ended March 2016. This saw record dividends paid to sole shareholder Eastland Community Trust, for the future benefit of the entire community.
Chief Executive Matt Todd thanked Mr Cull for his important input into the strategic direction and success of Eastland Group.
“We’ve worked closely together for a number of years, and Nelson has led the board with commitment, insight and integrity. His depth of experience, particularly in the local and international oil industry, has greatly benefited the company and the region as a whole.”
Eastland Community Trust is responsible for appointing Eastland Group’s board of independent directors, including the chair.
“Nelson has made a huge contribution to the company and has led the board well,” said ECT chairman Michael Muir. “This is a crucially important role, and we will be carefully considering options before making an appointment.”
Eastland Group’s directors are Matanuku Mahuika, Michael Glover, Tony Gray, John Rae and Kieran Devine.