John Spencer, chairman of KiwiRail, along with the KiwiRail’s board, have announced that they will not renew KiwiRail Chief Executive Jim Quinn’s five-year contract when it expires in February 2014.
“With the KiwiRail turnaround plan well initiated, the KiwiRail board feel [sic] it is time for a new CE to implement the next steps in driving the plan,” Spencer said in a written statement. “This includes rechallenging the bottom line financial performance of the business as we continue to deal with a number of difficult economic factors.
“We will conduct a thorough search for a suitably qualified replacement,” Spencer added.
Quinn has been chief executive of the New Zealand state-owned rail enterprise for more than four years.