Toll Owens chief gets nod for port job

The Port of Tauranga's new chief executive is Toll Owens boss Mark Cairns.

The 43-year-old won a two-horse race to replace retiring chief executive Jon Mayson in October.

Cairns, who heads New Zealand's biggest port cargo handler, said he was "over the moon" about his appointment.

The other finalist for the job was Port of Marlborough chief executive Sean Bolt.

Port of Tauranga shares jumped 10c on the news, ending the day at $4.70. The country's biggest export port had revenue last year of $151 million and an after-tax profit of $33.6 million.

Toll Owens was formed in December from the merger of Owens Cargo and Toll Logistics. It has a turnover of $90 million, employs 650 staff in 11 ports and five inland operations, and is jointly owned by the Port of Tauranga and Australia's Toll Holdings.

Cairns, a civil engineer, became chief executive of Owens Cargo in 2002, and was previously an executive with multinational civil engineering contractor Fulton Hogan, and a regional manager with Transit.

Mayson, who has had 33 years at the port, the last nine as chief executive, said Cairns would be good for the company and its stakeholders. He employed Cairns to head Owens Cargo when the port owned the company.

"He's got a good sound business head and he's a good strategic thinker. We know him well.

"It's good to have an internal appointment coming through," said Mayson. "I'm more than happy to hand it over to him."

ABN Amro head of research James Miller said Cairns had been groomed for the job and was a "good choice".

"He has the confidence of the board and a pretty astute commercial background."

Miller said the Owens business had gone from strength to strength under Cairns.

Cairns said it was premature for him to say what he hoped to achieve in the job, but he had "very big boots to fill".

"That's what makes it exciting."