Mercury announces retirement of Chief Executive and appointment of successor

Mercury (ASX: $MCY) announced that Vince Hawksworth will retire as Chief Executive, effective 31 August 2024. Stew Hamilton, the company's current Executive General Manager Generation, has been appointed to succeed Mr Hawksworth.

Executive Commentary on Leadership Transition

Vince has proven to be an exceptional leader, navigating Mercury through COVID-19 and achieving significant growth of the company, its performance and its culture. Under Vince's leadership, Mercury has developed a generation and retail platform that positions the company for future success. Stew's appointment is the result of focused succession planning overseen by the Board. Stew brings a proven track record of success in leading large, complex businesses in New Zealand and internationally. He has delivered strong business value while building enduring partnerships and driving health and safety performance. Stew is well placed to ensure Mercury capitalizes and builds on the strong platform for growth we have. The Board's unanimous decision to appoint him is a strong endorsement of Stew's capabilities, and a testament to the depth of talent we have within Mercury.

Summary of Mercury's Announcement

Mercury (ASX: $MCY) announced the retirement of Chief Executive Vince Hawksworth, effective 31 August 2024, and the appointment of Stew Hamilton as his successor. Stew Hamilton, the current Executive General Manager Generation, has been credited with a proven track record of success in leading large, complex businesses in New Zealand and internationally. The Board's unanimous decision to appoint him is a strong endorsement of Stew's capabilities, and a testament to the depth of talent within Mercury. The company is well positioned to lead the electrification of Aotearoa New Zealand and continue its impressive growth trajectory under Stew's leadership. The announcement also highlighted Vince Hawksworth's significant contribution to Mercury's long-term success and the sector more broadly over nearly 30 years, as well as his role in helping bring the sector together collaboratively as New Zealand navigates the transition to ensure better outcomes for all New Zealanders.