Baycorp pushes mergers and acquisitions strategy

By Phil Boeyen, ShareChat Business News Editor

Tuesday 23rd January 2001

Baycorp (NZSE: BCH) is hinting that mergers, acquisitions and joint ventures will continue to play a large part in the company's future growth prospects with the establishment of a new senior executive role.

The credit and financial information company has appointed a former Lion Nathan and Air New Zealand executive, David Sullivan, as Director of Finance and Strategy.

Baycorp's MD, Keith McLaughlin, says the company's rapid growth over the past three years, particularly offshore, has increased demands on its executive.

"By complementing the existing skills of management and increasing resources at senior level, the new appointment will not only strengthen Baycorp's operations and ability to deliver best practice, but also reflects its commitment to continue delivering strong results to the market."

Mr McLaughlin says the appointment will also continue the company's commitment to its long-term strategic objectives and its sustained financial performance.

"With the information technology and business landscape changing even more quickly, the group's ability to understand and leverage its core competencies, to define and implement its strategic objectives and to articulate its goals to stakeholders, has become even more important."

Mr McLaughlin says David Sullivan's experience in mergers, acquisitions and joint ventures domestically and in Asian markets will prove valuable to Baycorp as it expands throughout the region.

"The skills and strengths David brings to Baycorp will facilitate achieving sustained growth, both operationally and financially."

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