Hirequip appoints joint CEOs

Dunedin-based listed hire company, Hirequip New Zealand, has appointed two new joint group chief executives.

George Paterson and Brian Stephen will take up their positions immediately.

They will replace Graeme Wong, who will remain company chairman.

Current managing director Stuart McKinlay takes on a new asset management role within the company and remains an executive director.

Mr Wong said the appointment of Mr Paterson and Mr Stephen was a significant milestone for the company.

Mr Stephen is currently chief operating officer of Hirequip Ltd and has been with the company for over 20 years.

Mr Paterson is currently Hirequip's company secretary and general manager of its Power Hire subsidiary.

Hirequip employs more than 500 staff, has 60 trading locations and has New Zealand's largest inventory of hire equipment.

The company confirmed its head office and financial administration centre will continue from Dunedin.

Mr Wong said the challenge for the company's new team was to further grow its core hire equipment business, and develop the related equipment leasing and financing businesses.

- NZPA