Auckland Airport MD steps down

Mr Goulter said today he will step down from the job of managing director and chief executive which he held since the company was privatised in 1988.

Auckland Airport's profit after tax has risen from $3.7 million in 1988 to a forecast $70 million after tax this year, while revenue has grown from $65 million to about $1.8 billion.

Mr Goulter said the time to leave was right as he was turning 62 next year. Long-term plans, including approval for the location of the company's second runway, were in place to ensure the long-term viability of the airport and its commercial property development strategy.

Mr Goulter would be available as a consultant once he retired.

Auckland Airport has become one of New Zealand's top-performing blue chip stocks, although it faces current uncertainty about what will happen to the 25.7 percent stake Auckland City Council wants to sell.

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