Neal Barclay to step down as CEO of Meridian

Outoing Meridian Energy chief executive Neal Barclay. Photo / Doug Sherring

Neal Barclay will step down as chief executive of Meridian Energy, the country’s biggest power company, after seven years in the role.

He will be replaced by Meridian’s current chief financial officer, Mike Roan, the company said.

Barclay was appointed CEO January 2018 after holding a number of senior executive roles at the company.

Meridian chair Mark Verbiest thanked Barclay for his leadership.

“During his time as chief executive, Neal has grown a renewable development pipeline that will double the size of Meridian’s current asset base, championed customers and decarbonisation, secured a sustainable 20-year contract with New Zealand Aluminium Smelters and deepened Meridian’s relationships with a variety of stakeholders,” he said.

“Neal’s vision has always been that businesses and countries who lead in sustainable practice will form the thriving economies of the future.”

Mike Roan, chief financial officer at Meridian Energy.

Roan’s tenure at Meridian started in 2006 in the strategy team.

Since then, he has taken on various leadership roles, including general manager of wholesale and his current role as CFO.

Before joining Meridian, Roan held roles in the New Zealand electricity sector and banking and spent time working in the United States.

Last week, Roan was awarded the Deloitte Top 200 CFO of the Year award.

Verbiest said the Meridian board ran a comprehensive succession planning process, which included an international scan of talent, and that process supported directors to reach the decision to appoint Roan.

“Mike has been the driving force behind several of Meridian’s strategic and commercial initiatives and his work has underpinned the company’s goal to build seven new renewable projects in seven years.

“He’s also played a key role in negotiating the new Tiwai Point demand response and supply contract, providing long-term certainty and flexibility to the electricity system,” Verbiest said.

Roan will take over as CEO when Barclay leaves on June 30, 2025.

Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.