CHRIS SKELTON / Tips
Paul Munro, managing director of Christchurch City Holdings Ltd, right, during a city council debate on the company’s statement of intent.
The managing director of Christchurch City Holdings Limited (CCHL), the investment arm of Christchurch City Council, has resigned after more than five years in the post.
Paul Munro will step down in March 2022 to focus on opportunities in the private sector, it was announced on Tuesday.
The CCHL Group includes the city’s major infrastructure companies: Christchurch Airport, Lyttelton Port Company, Orion Group, Enable, EcoCentral and Citycare Group.
The group’s assets grew from $ 3.4 billion in June 2016 to $ 4.79 billion in June 2021.
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CCHL President Jeremy Smith said the organization and the city were fortunate to have someone of Munro’s caliber during what had been a critical phase for the business.
In particular, Munro oversaw the execution of the group’s capital release program, which brought in $ 440 million to Christchurch City Council, Smith said in a statement.
“Paul also put more emphasis on CCHL’s investment portfolio, which helped improve performance at a time when it was needed most.
“This approach… has put the organization in a good position to deal with the wide range of challenges imposed by Covid-19. “
Smith noted that Munro fostered an environment that strongly values diversity and inclusion.
“The strength of the entire group has been built by emphasizing collaboration and the development of a culture that encourages initiative and innovation at all levels.
Smith said the CCHL must now focus on the important challenges ahead, particularly climate change and the ongoing Covid-19 pandemic.
Recruitment of a new CEO would begin immediately.