Ken Forrest has announced that he will be retiring from his position of Managing Director of Marlborough Lines with effect from 23 December later this year.
 
During Ken’s leadership of Marlborough Lines and its predecessors shareholder wealth has been substantially increased to the extent Marlborough Lines now has assets with a value upwards of $650m.
 
Marlborough Lines owns 50% of Nelson Electricity the electricity network which delivers electricity to the city of Nelson and 100% of Yealands Wine Group which is one of New Zealand's major wine exporters.
 
The Marlborough Lines network is one of the most reliable networks in New Zealand despite the rugged nature of its terrain and its remote lines many of which can only be reached by boat or helicopter.
 
The Company’s Chairman, Mr David Dew said Ken is leaving Marlborough Lines with the Company in a very strong position with quality assets, a strong financial base with no debt and a dedicated team of staff.
 
A search for Ken's replacement will be undertaken.
 
 
Ends.
 
For further information contact David Dew, Chairman or Ken Forrest, Managing Director,
ph. 5777 007.