KEY POINTS:
An announcement today that Auckland International Airport chief financial officer Robert Sinclair is to step down will intensify disruption within the airport operator.
Sinclair plans to quit in August to emigrate to Britain and it means the company will have to fill vacancies for both the top jobs simultaneously.
Chief executive Don Huse announced at last year's annual meeting he planned to retire by the next annual meeting due in late October.
Sinclair did not apply for the chief executive position, Huse said.
AIA has undergone a period of turmoil following Dubai Aerospace Enterprise and the Canadian Pension Plan's failed takeover bids.
Six months ago, chairman John Maasland resigned after takeover action supported by members of his board failed.
There has been pressure on other board members from some in the investment community, who feel the board botched the takeover process.
The board supported the Dubai bid that ran into such problems it withdrew, while it then initially rejected the Canadian bid that was supported by shareholders but was then rejected by the Government on nationalistic grounds.
Huse said AIA was fundamentally very strong with depth in its management team.
"I don't believe Auckland Airport will frankly skip a beat.
"I don't think there is reason for concern."
He said the changes at the top were coincidental and were happening for different reasons.
He was not able to say how progress to find his replacement was going.
Sinclair, who has been in the job for three years following a career in investment banking and law, does not have a job lined up, although Huse said he was looking at a number of opportunities.
Huse said Sinclair had been instrumental in developing a new vision and strategy for the company.
"Robert has also been of significant assistance to the board in responding to the various ownership and capital restructuring proposals over the last 18 months."
Sinclair, in his early 40s, had made the move overseas to further his career, Huse said.
A search for a new cfo would begin immediately although the new ceo may have a say in the appointment of the finance officer.
AIA shares were up 1 cent to $2.20 mid-afternoon.
- NZPA
