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Home / Business

Herald Business Leader of the Year: Z Energy chief ready to take punt

Grant Bradley
Grant Bradley
Deputy Editor - Business·NZ Herald·
10 Dec, 2014 04:00 PM2 mins to read

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Mike Bennetts.

Mike Bennetts.

Mike Bennetts proved he was prepared to take a punt getting rid of the century-old Shell brand and renaming it Z Energy in 2011.

Over the past year - the first full 12 months of listing - he's continued to think outside the square, acknowledging products the company sells contribute to climate change and thinking hard about life after petrol.

He's ambivalent about what the company sells to fuel cars - just as long as it's selling something.

The company is also cleaning up its own backyard, moving to a fleet of 30 hybrid cars, installing more efficient LED lighting in forecourts throughout the country and has a programme to reduce waste going to landfills.

Z is also building a $21 million biodiesel plant which Bennetts is convinced can succeed where others have failed; minimising capital costs, charging a premium for the product and maximising the advantage Z has as an established player with a nationwide distribution network.

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The company's half year has been hit by a refinery outage and currency movements this year but its share price has appreciated by close to 17 per cent in a market where petrol is getting tougher to sell.

Mike Bennetts, chief executive Z Energy.

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