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NZX's Peterson gets top job

NZ Newswire logoNZ Newswire 9/04/2017 Paul McBeth

NZX acting chief executive Mark Peterson will take over the reins full-time effective immediately and has been tasked with growing the business to compete more effectively both at home and abroad.

Mr Peterson has been acting chief executive since January, and was on Monday appointed to the top job on a five-year contract with an option for a two-year extension, NZX said in a statement. The stock market operator wants him to focus on building upon NZX's existing relationships with stakeholders and expanding the business "to ensure it is best placed to compete domestically and internationally".

His base salary is $500,000 with annual short-term incentives of up to $500,000 and long-term incentives of as much as $250,000 a year.

NZX has been looking for a replacement to predecessor Tim Bennett since October, saying at the time there was a "strong priority" to grow shareholder value in parallel to growing the capital market.

"Mark has shown himself to be a highly capable leader during his time at NZX and more recently as acting CEO," chairman James Miller said.

"Mark has been instrumental in transforming staff engagement, with his clear communication skills and collaborative leadership style."

The shares last traded at $1.06 and have gained 1 per cent so far this year.

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