Infratil announces Jason Boyes will replace Marko Bogoievski as chief executive

Marko Bogoievski will step down as chief executive of Infratil in April, but will continue as the chief executive of its manager, investment bank Morrison & Co. Photo / supplied

Infantil, a major NZX company which appears to be the subject of takeover interest, has announced its longtime chief executive is standing down, to be replaced by one of its long time staff.

The Wellington-based infrastructure investor announced that from the start of April Jason Boyes will replace Marko Bogoievski as chief executive.

Bogoievski replaced Infratil founder Lloyd Morrison as head of the fund - and the bank which manages it, Morrison & Co - in 2009. He will continue as chief executive of Morrison & Co.

The former Telecom executive ran the company as it embarked on investments in Shell New Zealand's downstream business (which is now known as Z Energy) as well as data centres and international renewable energy businesses.

"Marko has been an outstanding CEO since taking over the reins in 2009, leading Infratil's investment and portfolio strategy which has delivered a remarkable 18 per cent [per annum} over that period," Infratil chairman Mark Tume said in a statement.

"I would like to thank Marko for his leadership and vision in delivering impressive shareholder returns through innovation and foresight."

Jason Boyes, who joined Morrison & Co, Infratil's manager, in 2011, will become its chief executive in April. Photo / supplied.

Boyes has worked for Morrison & Co since 2011. A former banker in New Zealand in London for 15 years prior to joining the Wellington-based investment bank, he led the flotation of Z Energy in 2013.

In a statement, Infratil said he had been instrumental in the acquisition of Vodafone NZ and subsequent capital raise in 2019, and the establishment of Longroad Energy in 2016 and Galileo Green Energy in 2020, Infratil's international renewable energy businesses.

He is currently heading the strategic review of Infratil's majority ownership of Tilt Renewables, the windfarm developer it spun out of Trustpower.

The change has been announced about two months after Infratil confirmed it had rejected an indicative approach from AustralianSuper, which publicly confirmed it had made a non-binding approach for the company.

The offer valued Infratil at about $5.4 billion although the offer would have seen Infratil's shareholders receive part of the proceeds in the form of shares in Trustpower.

In January reports from across the Tasman suggested IFM Investors was also preparing a bid for the company.