05 January 2018
Kina Securities Limited (ASX: KSL) announced today that Mr Syd Yates of Kina Group of Companies retired as Managing Director effective January 2, 2018. This is in line with the market announcement from June 22, 2017 where Kina announced the planned retirement of Mr Yates and the transition of the Chief Executive Officer role to Mr Greg Pawson, former Regional Head of Westpac South Asia & Pacific. Prior to Mr Pawson’s appointment, Mr Yates held both roles of CEO and MD.
Kina Board Chairman, Mr Isikeli Taureka thanked Mr Yates for his long and distinguished service of over 20 years to Kina and to the Papua New Guinean financial sector. His achievements have been immense and crowned by the successful IPO of Kina on the ASX and POMSoX in 2015, and the acquisition of Maybank PNG by Kina in the same year. Kina is PNG’s first financial institution to be listed on the ASX.
Chairman Taureka also noted the contributions by Mr Yates to the community, particularly in sports administration. He represented Papua New Guinea on several Olympic Games Committees.
Mr Pawson, who is no stranger to Papua New Guinea, takes over the leadership in an exciting time for Kina in its next phase of growth, and for the PNG economy with several major resource projects progressing towards project sanction and Papua New Guinea’s APEC 2018 Year.
Chairman Taureka wished Syd and Barbara Yates the very best for their retirement.
For further information, please call:
Chief Executive Officer & Managing Director
+675 308 3810
Company Secretary / Chief Financial Officer
+675 308 3800