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NZ Bus chief executive Ross Martin is to step down from the position in June.
Formerly Stagecoach, the company was bought by Infratil for $250.5 million in November 2005. It operates around 650 buses in Auckland and 360 in Wellington, as well as owning a controlling interest in the Fullers ferry business in Auckland.
In a statement today, Infratil said it would like to thank Mr Martin for his 17 years of dedicated service in creating the public transport company.
Mr Martin would continue to be involved with Infratil as a public transport adviser and as chairman of Fullers Ferries.
Bill Rae would take over as acting chief executive, while an international search was held for a new chief executive.
Last month the company apologised for a fortnight of poor performance by the bus service in Wellington and met representatives of the Greater Wellington regional council to discuss problems with the buses.
The company said the immediate cause had been a lack of drivers, while traffic delays caused by the then partly opened Wellington inner city bypass were also causing problems.
- NZPA
