Bogoievski to join Infratil

Highly regarded executive Marko Bogoievski, whose resignation as Telecom chief financial officer was announced in August, is to join Infratil and its manager HRL Morrison & Co as chief operating officer.

Mr Bogoievski is to leave Telecom on Thursday, with the announcement of his departure having come after he was overlooked to take over from Theresa Gattung as chief executive.

Utilities investor Infratil today said Mr Bogoievski was joining it and HRL Morrison & Co.

Mr Bogoievski said he was excited to be joining Morrison & Co and Infratil, "a group in my home town which has proven itself to be one of New Zealand's most innovative organisations.

"My experience in complex infrastructure businesses will complement Morrison & Co's existing skills and should enable me to assist Morrison & Co and Infratil achieve the next level of scale and performance," he said.

Mr Bogoievski joined Telecom in May 2000 from the United States and has held a number of senior financial, operational and sales roles with Lion Nathan, Ansett, Elders Finance Group and Price Waterhouse.

Infratil also announced the appointment of Peter Coman as chief executive of Morrison & Co and Infratil Property, having been managing director of Jones Lang LaSalle, New Zealand.

Mr Coman would be accountable for the development and performance of property within Infratil, for example assessing potential opportunities arising for Infratil shareholders from the PIE regime, the company said.

He said that with capital markets undergoing a massive shakeout, property players in New Zealand and Australia were under enormous pressure and he expected property prices could move substantially downwards.

"Given we are looking to grow and acquire and also to recruit, this is a good environment for us," he said.

"Infratil also has a much larger property exposure than most people are aware of and this will provide a great platform for me to build a growth strategy around."