Skellerup Holdings managing director Donald Stewart is leaving after 18 years in the job and more than 30 years at the company.
He is to formally remain in the role until June 30, and the company today said he would continue with Skellerup for a further period to ensure a successful handover. A search for a replacement was under way.
Mr Stewart joined the Skellerup group in 1979, rising to managing director in 1992.
"During his tenure Donald has overseen a significant transformation in strategic direction," the company said.
Skellerup had moved from being a conglomeration of New Zealand-based manufacturing businesses, to an innovator of technical polymer products and vacuum pumps, selling to international niche markets.
It has manufacturing operations in this country, Australia, China, Britain and Italy.
A halt placed on Skellerup shares just before the market opened today was lifted after the announcement.
