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Norman Geary Departs Anz
Air New Zealand has begun an international search for a top-calibre executive to replace its chief executive of more than six years, Mr Norman Geary, who has resigned. Managing director Geary, formerly with British Petroleum, is credited with bringing about one of the most remarkable airline revivals. He took over Air New Zealand when it was making a $90 million a year loss and whose morale was shattered by the aftermath of the Mount Erebus crash. Last financial year he steered it to a net profit of $176 million, its fourth $100 million-plus profit in a row.
Dunedin-born Geary (49) stressed that he was not going to work for a competitor of Air New Zealand’s (“I personally don’t support this practice”). Speculation in the airline is that he will concentrate on a number of directorates (including New Zealand Steel and New Zealand Forest Products) and a continuing close association with Air New Zealand- as a member of the board and, it is strongly tipped, board chairman in the not-too-distant future.
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