NZX Chief Executive Mark Weldon to Step Down Next Year
Stock Chart for NZX Ltd (NZX)
“Following the successful execution of NZX’s second five- year strategic plan, Mark has indicated that the time is now right for him to leave the company,” Chairman Andrew Harmos said in a statement.
Weldon, 44, took on the role of chief executive in June 2002, leading the company’s initial public offering in 2003. He has overseen a fivefold increase in sales since starting at the Wellington-based stock exchange operator.
NZX shares have gained 54 percent this year, the best performer on the benchmark NZX 50 index. The stock was unchanged at NZ$2.36 at 10:37 a.m. in Wellington trading.
Weldon owns about 5 percent of NZX, according to a filing in June. He joined the company from McKinsey & Co. and previously was an attorney with Skadden, Arps, Slate, Meagher & Flom.
“Although it’s been a very tough decision to leave, I know it’s the right time, Weldon said in the statement. ‘‘The organization is in such good shape, with momentum building that will provide a positive working environment for the next chief executive.”
To contact the reporter on this story: Tracy Withers in Wellington at firstname.lastname@example.org.
To contact the editor responsible for this story: Iain Wilson email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.