Meridian Energy has announced the appointment of Neal Barclay as the replacement for retiring CEO, Mark
Meridian Energy Chairman, Chris Moller made the announcement this morning saying “The Directors are
delighted that we have been able to appoint from within the Company, reflecting Meridian’s strong succession
“Following the announcement of Mark’s retirement, the Board met to consider what process it wished to adopt to
appoint a replacement CEO and the unanimous view was that Neal’s credentials for the job were so strong that
the Board did not need to undertake an external search” he added.
Neal has been with Meridian since 2008 when he moved from Telecom NZ to be Meridian’s CFO. He held this
position for 15 months and then took up the role of General Manager - Markets and Production, which he held until
last year when he was appointed General Manager - Retail.
“This breadth of experience, not only in the NZ electricity industry, but across all of Meridian’s main activities,
together with the leadership and competence he has brought to all of his previous roles, made Neal the standout
candidate to be appointed Meridian’s new CEO” said Mr Moller.
The outgoing CEO, Mark Binns said he “was delighted with the Board’s decision and was convinced that Mr
Barclay would hit the ground running with a total grasp of the key value drivers of the business”. “Neal will be a
popular internal appointment” he added.
Mr Moller also noted that “Neal’s appointment would provide a seamless transition between CEOs and stability for
the Company and its staff”.
Mr Barclay will take over from Mark Binns at the end of the year.
Note: Meridian will host a teleconference for interested investors at 10.30 am today and the details will be posted
in the Investor Centre on Meridian’s website. The purpose of the call is to answer any questions that investors may
have about Mark’s decision to retire, Neal’s appointment and the transition. Please note that no operational or
other matters will be discussed for continuous disclosure reasons.
The teleconference will be attended by Chris Moller, Mark Binns and Neal Barclay.
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