Minto takes over reigns at Tower

Wednesday 2nd February 2005

Keith Taylor, the group managing director of Tower, is leaving the company at the end of February and will be replaced by Jim Minto, currently chief executive of Tower Australia.

"Jim Minto is particularly well credentialed having proved himself both in leading the turnaround of Tower Australia over the last two years as well as demonstrating strong leadership skills through his extensive experience within the Group," Tower chairman Olaf O'Duill said.

Minto has been a senior executive at Tower for 16 years heading many of Tower's businesses, including Tower Trust (NZ), Tower Managed Funds, Tower Health & Life, Tower New Zealand and most recently Tower Australia.

"The board would like to acknowledge Keith Taylor's achievements in the successful restructuring of the group. Keith was instrumental in the effective implementation of the restructure including returning the group to profitability and the establishment of an effective management structure, which will allow a smooth succession of the company's leadership," O'Duill said.

Taylor said; "I have enjoyed my 25 years at Tower, particularly the challenge of leading the recovery over the last two and a half years and I am confident of Tower's continued success".

COMMENT: Welcoming an old friend back

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