Andrew Peskett, appointed chief executive from today. Photo / supplied
Andrew Peskett, appointed chief executive from today. Photo / supplied
Listed national rest home and retirement village operator Radius Residential Care has appointed a lawyer as its new chief executive.
Radius executive chairman and managing director Brien Cree announced today that Andrew Peskett, 52, would become the company's chief executive immediately. He replaced Stuart Bilbrough who left last year.
Creesaid Peskett brought with him experience in the retirement village and aged care industry.
He played a number of key roles at Metlifecare, which has been sold and delisted from the NZX.
Peskett's university education was in Dunedin, then he went to London where he worked as a property specialist.
He returned to New Zealand in 2007 when he became a senior executive at the now privately owned Metlifecare, with assets of around $4 billion.
Peskett was Metlifecare's acting chief executive officer, corporate services general manager, acting general manager of operations, general counsel and company secretary. He worked for the business for the past 14 years.
The New Zealander studied law at Otago University, graduating with honours in 1992. He carries a British passport because his father was born in Southampton.
"I've got a legal background but my roles in Met were more of a leader than a lawyer. I did the Institute of Strategic Leadership course a couple of years ago and learned a lot. I'm curious about leadership. I'm a leader with a legal background," he said.
In London, he worked for short stints at Freshfields Bruckhaus Deringer for five months until 2000, followed by Linklaters and then Herbert Smith.
"I acted in commercial property in London. The property market was booming back then and I'd take a break in Europe for a short time, then come back and join another firm on a contract basis," he said.
Radius Elloughton Gardens in Timaru. Photo / supplied
For Metlifecare on EQT's takeover, he said: "The process was a really interesting experience. I learned a lot. During the Metlifecare buyout, and as a matter of public record, a member of the board voted against the takeover. The situation made for an interesting dynamic and an excellent learning experience. There are good growth plans in place there and I'm sure they'll go well. I'm still in touch with EQT. They're nice guys. It just shows you need to always be getting on with all parties in such transactions."
On joining Radius, Peskett said that business was different from the others in the sector because it had a focus on rest home or higher-acuity care.
He was referring to Radius mainly operating rest homes instead of retirement village assets like the other listed companies.
"It's different from the other retirement village operators because it has niche retirement village parts of the business but that's fairly small. That could grow. It's got motivated people working in that sector during Covid," he said.
Asked how long he intends to stay, he said: "I believe that I will drive the business as far as I can in the next five to six years at the minimum and then we'll see if I'm still doing as good a job as hopefully the board and I think I can."
