Mr Black served for 21 years on the board, becoming a director in September 1994 and retiring in December 2015. He was deputy chairman from 2001 until his retirement.

Mr Woodhead noted that Mr Black’s tenure on the board coincided with a period of significant change and development at the port.

“Ross has provided continuity at the board level through this period of major investment and development, and he has also made a significant contribution to developing Chalmers Properties into the company it is today.”

Mr Woodhead also noted that the Port Otago group’s balance sheet had grown from $68.8m in 1994 to $461.8m in 2015, and dividends paid by the port company to ORC from $1.5m to $7.2m during the same period.

ORC is 100 percent owner of the port company on behalf of the people of Otago and uses the proceeds of dividends to offset rates.

“Ross’s vast commercial experience, business acumen, and governance knowledge has had a major influence on the POL group’s performance and expansion, and we greatly appreciate his service,’’ Mr Woodhead said.

Mr Black is succeeded by Dunedin-born Tim Gibson, who is managing director of Wellington-based consultancy firm Tuia International.

A former chief executive of NZ Trade and Enterprise (2003-2009), Mr Gibson has more than 20 years as as a CEO and senior executive in New Zealand, Japan, and the UK.      

For more information contact

Stephen Woodhead
Chairman
ORC
Ph 027 280 1635