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NZ Post CFO David Walsh gets the top job

NZN 23/03/2017 Rebecca Howard

New Zealand Post CFO David Walsh will take up the role of chief executive, the the state-owned company has announced.

Mr Walsh, who has been at NZ Post for two years as chief financial officer and provided executive leadership to the information technology function, replaces Brian Roche and takes up the role from May 1, chair Jane Taylor said a statement.

Prior to joining NZ Post, Walsh appointed as CFO at KiwiRail in 2004, before moving into the role of general manager, corporate and finance.

Earlier in his career, he spent time in the NZ Racing Board, Fonterra, TransAlta NZ and Shell NZ.

"The board feels that the momentum behind the transformation already underway at NZ Post will benefit from the continuity provided by having an internal appointment," Ms Taylor said.

"David knows the company well, knows where we are heading and knows what we need to do to become a more customer-centric, service oriented business, enabled by our digital future."

NZ Post has been overhauling its businesses as the traditional postal services face a period of decline, and has launched new delivery options to keep up with increasing online shopping volumes, including parcel collect and drop-off at supermarkets, bookshops and pharmacies.

The Wellington-based state-owned enterprise sold 47 per cent of its Kiwibank stake for $493.5 million in October 2016, which it used to repay $180 million of debt and make a $100 million dividend payment to the Crown, while also booking a $25 million gain.

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