Hellaby appoints former Abano boss Alan Clarke as new CEO

Hellaby appoints former Abano boss Alan Clarke as new chief

By Paul McBeth

Sept. 18 (BusinessDesk) - Hellaby Holdings has appointed former Abano Healthcare Group boss Alan Clarke as its next chief executive, replacing the long-serving John Williamson in November.

The Auckland-based diversified investor has been looking for a new chief since Williamson signalled his resignation in April, ending an eight-year spell in charge of Hellaby, during which he led an overhaul of its investment portfolio. Clarke, who flagged his own departure from specialist medical investor Abano last year, will join Hellaby in November and will also be appointed to the firm's board, the company said in a statement.

"The new CEO search process has been very valuable for the board, providing an opportunity to reflect on Hellaby’s portfolio and investment strategy," chairman Steve Smith said. "The board’s view is that Hellaby has a strong foundation for future growth in the business sectors of its three well performing core business units - automotive, equipment and oil & gas services."

Last month, Hellaby reported a return to profit with earnings of $23.4 million in the 2015 year as it benefited from a series of acquisitions a year earlier, and announced plans to sell its Hannahs and Number One Shoes businesses which were written down in 2014.

Hellaby shares rose 0.7 percent to $3, and have declined 5.4 percent this year.

(BusinessDesk)

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