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Enable CEO Steve Fuller will step down from his 14-year job to retire.
The CEO of fiber network provider Christchurch Enable is retiring – the third head of a company owned by Christchurch City Council to step down in three months.
Steve Fuller, who earned $ 1.173 million last fiscal year, including a performance pay of $ 490,000, has led Enable since its inception in 2007 and will step down between July and September 2021.
“The business is in good shape and next year will be the right time for me to retire from business.”
He said the company had grown from a start-up to the largest broadband access network provider in the greater Christchurch area.
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About 125,000 homes and businesses are connected to Enable’s fiber broadband network.
Enable is a $ 600 million strategic asset owned by the people of Christchurch, generating more than $ 75 million in annual revenue, and is preparing to pay its first dividend to the city.
During the last financial year, it achieved a net profit before taxes of $ 15 million, compared to $ 4 million the previous year.
Enable President Mark Bowman said Fuller’s contribution to the community as CEO was immeasurable.
“He has led a massive infrastructure rollout like Christchurch has not seen before and has built a business that will serve future generations.”
Stacy Squires / Stuff
Onno Mulder stepped down as CEO of City Care in October.
The Enable board has begun the process to hire a new CEO.
Fuller’s resignation comes three months after Onno Mulder, CEO of the council’s maintenance services company, Citycare, resigned after 20 years in business.
Mulder said he was leaving because the company was experiencing “strong revenue and earnings growth in all regions.”
Four days before Mulder’s announcement, Rob Jamieson, CEO of Greater Christchurch Line Company Orion, announced that he was leaving.
Jamieson, who had been with Orion for 26 years and CEO for nine, said it was the ideal time to “hand over the reins” after completing a recent review of the company’s strategy.
