Infratil founder believes in giving to community

Infratil founder Lloyd Morrison says he is part Right-wing capitalist, part socialist and all egalitarian at heart.

He says his strongest attribute in business is the ability to hire good people and his biggest success is the returns to original shareholders in the company.

Mr Morrison became a companion of the New Zealand Order of Merit in the New Year honours, for services to business.

"Getting an honour is merely a recognition of what a group of people has done," he said. "I think my strongest attribute is to hire good people and I've been like a magpie for good people."

Infratil has investments in power company TrustPower, Wellington Airport, New Zealand Bus, and a variety of other businesses in New Zealand and overseas.

Infratil and the New Zealand Superannuation Fund are in the final stages of buying Shell's petrol retail business in New Zealand.

Mr Morrison is also a great supporter of music and the arts and is founder and patron of sports institute Wellington High Performance Aquatics for diving.

Wellington-based Mr Morrison returned to New Zealand recently after almost a year receiving treatment for leukaemia in Seattle. Recovery was a "step by step" process and getting better was his top priority.

"But I'm better than I was," he said yesterday. "I've been very lucky to survive so far."

He felt good yesterday, relaxing with family.

Mr Morrison is still receiving medical treatment for his rare form of leukaemia, but is working part time at Infratil.

"I love my job. The most important thing in life is that you use every moment you have to the fullest extent," he said. The job was "fulfilling and intellectually challenging and you have to have a real determination to succeed.

"And I love building [businesses]."

The results were evident in the returns to investors and the numbers of staff. "Like everything hard, the more effort you put in, the more you get back." He admits he is a competitive person, but the satisfaction came from doing the best job possible and creating big, successful businesses.

"There is a real need in New Zealand to build strong performance-oriented successful businesses, but, critically, substantive organisations that can retain and attract people to New Zealand."

Infratil's biggest success was making a number of original small shareholders much better off.

"We have done well for their savings."

The company also created good job opportunities for the businesses Infratil owned. "Over time, we have developed best-in-class businesses."

Infratil had also given back to the communities it was involved in, sometimes in a low-key way.

"All New Zealanders being better off is real wealth. We believe in long-term returns, so we are not interested in asset stripping."

Infratil wanted to see benefits for the shareholders, employees and the community, which meant "a better chance of success" for the business, too.

"My principles are egalitarian. I believe you have to earn wealth to distribute it so I'm a Right-wing capitalist, but I believe in a socialist approach to looking after those who are less able to look after themselves. That's my view of wealth. I don't ascribe to the Wall Street view of wealth [that greed is good]."

For example, Infratil's part-owned TrustPower has a community awards programme.

Infratil also sponsored Wellington High Performance Aquatics to encourage elite performance at an international level, initially starting with diving.

But the idea of international competition applies as much to business as sport. "We believe you can't really operate a business unless you can compete internationally. That hones our skills and makes us run business better in New Zealand."

- © Fairfax NZ News