Infratil boss having leukaemia treatment

Infrastructure investor Infratil says its chief executive Lloyd Morrison will step down for a period of treatment for leukaemia.

The company said in a stock exchange statement that Morrison had already started treatment.

Morrison will take leave of absence from his positions as director of Infratil, TrustPower and Auckland International Airport. Infratil's chief operating officer, Marko Bogoievski, will serve as chief executive for the period of Morrison's medical leave. Bogoievski is Telecom's former chief financial officer.

Infratil chairman David Newman said it was important for Morrison to focus on his health and
family.

"Infratil is very well placed with the strength of its businesses and the depth in the management team," Newman said.

"Our thoughts are with Lloyd and his family and I am sure he will fight this illness with the same determination and passion he has shown in the business."

Morrison founded investment bank Morrison & Co and Infratil, which floated on the stock exchange in 1994. Infratil has been one of the NZX's star performers ever since in terms of shareholder returns.

Among its portfolio of assets Infratil owns a controlling stake in TrustPower, New Zealand Bus, 66 percent of Wellington airport, 100 percent of British airports Glasgow Prestwick and Kent, and 90 percent of Luebeck Airport in Germany.

Morrison & Co is an external investment manager for the New Zealand Superannuation Fund and holds a stake in Auckland International Airport.

Morrison also established the HRL Morrison Music Trust and an arts trust and a few years ago led a push for a new national flag.