Housing NZ boss Glen Sowry quits to head Metlifecare

Wednesday 2nd December 2015

The head of the government agency at the centre of the government's social housing policy, Housing New Zealand's Glenn Sowry, is quitting to become chief executive of Metlifecare, the retirement village operator that counts the New Zealand Superannuation Fund and Infratil as cornerstone shareholders.

Sowry will start the role on April 18 next year, replacing Alan Edwards who signalled his plans to retire earlier this year, the company said in a statement. Chairman Kim Ellis cited Sowry's current role at Crown entity Housing NZ as providing "substantial property development" skills which will help the retirement village operator as it continues to expand its footprint.

"Metlifecare is well positioned through its portfolio to continue to grow its revenue and leverage its excellent geographic locations," Sowry said. "Supported by strong demographic trends and demand for well-designed and positioned retirement villages, there is huge potential for Metlifecare to further cement and improve its position with both prospective and existing village residents."

In October, Metlifecare bought a site on the North Shore, where it plans to build its 17th village in the wider Auckland region. The company has been focusing much of its construction efforts in the upper North Island, where it sees the biggest opportunity to latch on to an ageing demographic.

Before taking over as chief executive of Housing NZ, Sowry was head of corporate affairs at national carrier Air New Zealand, and has held senior management roles at state-owned broadcaster Television New Zealand, and phone company Telecom, which has since been split up into Chorus and Spark New Zealand.

Metlifecare shares last traded at $4.29, and have declined 8.7 percent this year.

BusinessDesk.co.nz

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