Infratil's Lloyd Morrison takes leave for leukaemia treatment

Monday 19th January 2009

Lloyd Morrison, managing director and founder of Infratil, is taking leave from the job for treatment of leukaemia, the investment group said today.

Morrison "will step down from the business for a period of medical leave," chairman David Newman said in a statement. He "has been diagnosed with a form of leukaemia and has started treatment."

The company names chief operating officer Marko Bogoievski as acting chief executive while Morrison is off work getting treatment. Morrison will also take leave from his directorships of TrustPower and Auckland International Airport. Shares of Infratil slipped 0.6% to $1.64.

The company is "very well placed with the strength of its businesses and the depth in the management team," Newman said.

In his private capacity, Morrison established the HRL Morrison Music Trust to support New Zealand music and musicians, which has published recordings ranging from the Christchurch Symphony Orchestra to Wellington band Phoenix Foundation, and the HRL Arts Trust to support the arts.

Infratil, which went public in 1994, owns 50.5% of utility TrustPower and 66% of Wellington International Airport. Its investments include the main bus service in Wellington and Auckland, the UK.'s Glasgow Prestwick and Kent airports, and a 90% stake in Germany's Luebeck Airport.

Lloyd Morrison's investment bank, Morrison & Co, has a joint venture with Fisher Funds Management and is an investment manager for the New Zealand Superannuation Fund.

By Jonathan Underhill

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