News

Eastland Group Directors retire

Two of Eastland Group's long serving directors are retiring in June. Incumbent chair Arthur Muldoon retires after serving as chairman for all Eastland Group companies since 2000 and Michael Andrews retires his directorship - held since 2003.

Eastland Community Trust chairman Gary Alexander congratulated the men on their input and guidance and thanked them for their contribution to the region's long term economic sustainability.
"These two directors have been part of a board that has overseen significant and sustained growth in both total investments and earnings and they leave the group in a very strong financial position. Both directors have been instrumental in the continued growth of the Eastland Group to where it is today and we thank them for their solid contribution."
Under Mr Muldoon's chairmanship the infrastructure assets of ECT, originally consisting of only the Eastland Energy network, grew to include the port. Both are governed under a single board through Eastland Infrastructure. Subsequent growth of the group over the years has seen solid foundations established in the areas of energy, logistics, commercial property, aviation and, most recently, contract services.
Mr Muldoon said "I retire from my position of chairman in the knowledge that the creation of the Eastland Group has resulted in a significant multi-sector diversified business providing strong commercial returns for its shareholder as well as ongoing essential infrastructure for the region".
Other notable initiatives of the group included taking on management of the airport, which received an extensive facility upgrade and is no longer dependant on the local ratepayer.
Replacing Mr Muldoon as chairman is professional director and business consultant Nelson Cull from Auckland. Replacing Mr Andrews is Shaan Stevens a Wellington barrister/solicitor and chartered accountant.