John Roberts, chairman of Macquarie Group’s wholly owned subsidiary, Macquarie Infrastructure Company (MIC), announced his resignation – effective June 30 – during MIC’s annual shareholders’ meeting, the company said in a statement.
“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,” Roberts told shareholders. “It has become an appropriate time to start the process of addressing Board succession and leadership.”
Martin Stanley, who has been with the company since 2004 and currently serves as global head of the Macquarie Infrastructure and Real Assets division, will succeed Roberts as chairman on July 1. He has also served as MIC’s alternate chairman since 2011.
“He [Roberts] is leaving the company in tremendous shape and we’re grateful to him for his years of service,” Stanley said. “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,” he added.
The MIC Board comprises five independent directors and a chairman appointed by Sydney-based Macquarie Group. Based in New York, Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the US.