John Roberts Steps Down as Chairman of Macquarie Infrastructure Company
John Roberts Steps Down as Chairman of Macquarie Infrastructure Company
Martin Stanley Appointed Chairman Effective July 1, 2013
NEW YORK--(BUSINESS WIRE)-- Macquarie Infrastructure Company LLC (NYS: MIC) announced that John Roberts has resigned as Chairman of the MIC board of directors. His resignation will be effective at the end of June 2013.
"I have concluded that, after 9 years in the role, this is an appropriate time for me to step down as Chairman of MIC," Roberts said during the annual meeting of MIC shareholders on May 20, 2013.
"The Board has overseen meeting the objectives set out in our 2004 Initial Public Offering and, post the Financial Crisis of 2008 / 2009, successfully restored shareholder value. It has become an appropriate time to start the process of addressing Board succession and leadership," Roberts added.
Martin Stanley, 49, has been tapped to replace Roberts as Chairman. Stanley has been with Macquarie since 2004 and currently serves as Global Head of its Macquarie Infrastructure and Real Assets division.
"John has led MIC and the MIC board through some very good and some very difficult times. He is leaving the Company in tremendous shape and we're grateful to him for his years of service," said Stanley. "I'm pleased to be able to assume the leadership of the Board of MIC and look forward to guiding MIC in the next phase of its growth."
Stanley oversees listed and unlisted investment vehicles owning or investing in more than 100 infrastructure businesses around the world. He has served as MIC's alternate Chairman since 2011.
The board of MIC comprises five independent directors and a Chairman who is appointed by Macquarie Group. Roberts has served as Chairman since MIC's IPO in late 2004.
About Macquarie Infrastructure Company
Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a gas processing and distribution business, Hawaii Gas, a controlling interest in a District Energy business in Chicago, and a 50% interest in a bulk liquid storage terminal business, International-Matex Tank Terminals. MIC also owns and operates an airport services business, Atlantic Aviation and two solar power generation facilities, collectively MIC Solar. The Company is managed by a wholly-owned subsidiary of the Macquarie Group. For additional information, please visit the Macquarie Infrastructure Company website at www.macquarie.com/mic. MIC-G
MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.
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