Geneva boss retiring

David O’Connell, the managing director of Geneva Finance Limited, has announced he is retiring from the company next month.

The move will be effective from August 11 and O’Connell, pictured above, plans to pursue personal business interests and spend more time with his family. 

A statement to the NZX on July 17 notes he has been at the helm of Geneva since the company was in a moratorium in 2008 and has steered the business to where it is today.

Malcolm Johnston, who has been serving on the company’s board since February 2020, will take over as managing director for an interim period as the board works through its options.

O’Connell adds: “Geneva is in a very good place, with a strong executive team and both the insurance and lending operations, in particular, now experiencing very good growth. 

“I have every confidence that under Malcolm’s leadership the team will capitalise on this to further enhance and grow shareholder returns and value.”

He also thanked all the staff at Geneva who have contributed to the achievements of the company to date.

According to LinkedIn, O’Connell remains a non-executive director of Wholesale Toners NZ Limited, a role he has held since June 2006.

His previous roles include being managing director of Redpaths NZ Limited from March 2002 to October 2005 and finance director of The Farmers Trading Company for nearly six years from October 1987.

Meanwhile, Johnston, pictured below, has 30-plus years of experience in commercial banking, finance, general insurance and manufacturing and has been general manager – Pacific region for the Federal Pacific Group since mid-2014. 

Prior to that, he spent nearly nine years at the National Bank of Samoa where he was chief financial officer and then chief executive officer.