Veteran Spark executive to leave company

Spark chief executive Chris Quin says the future of his company's business lies in video entertainment.

Spark New Zealand head of home, mobile and business Chris Quin, a 20-year veteran of the company and one-time contender for the top job, will leave the telecommunications company at the end of June this year.

Quin has had numerous roles with the company, including acting as chief executive, and has been in charge of the home, mobile and business unit, which accounts for almost half of the group's revenue, since Simon Moutter re-joined the company and took over the reins in 2012.

Quin will be replaced by Jason Paris, who is currently the company's general manager of home, mobile and business.

Paris joined Spark in 2011, having been in charge of television at MediaWorks' TV3 and previously running Television New Zealand's digital media strategy.

"By any measure, Chris has done a consistently terrific job in a range of executive roles at Spark New Zealand and Telecom/Gen-i before that," Moutter said in a statement.

"Chris and I have been talking for a while about his desire to progress, so we will part on great terms and he will leave with my full backing and genuine appreciation for a job well done.

"Spark has been overhauling its business to focus on growing earnings in data, content, mobility and cloud services since carving out its network unit Chorus in late 2011. That shift has involved major restructuring that's reduced staff numbers, made the firm compete more aggressively to maintain market share, and introduce new services such as its Lightbox on-demand video streaming unit.

Moutter said Spark is preparing for the end of its turnaround plan and will roll out a new 'digital first' strategy in coming months, with a goal of creating "

New Zealand's leading digital services platform and suite of digital applications intended to fuel market growth.

"As part of the changes Spark Ventures head Rod Snodgrass will take accountability for the new programme and chief financial officer Jolie Hodson will take responsibility for the Skinny and Big Pipe businesses which currently sit in the Ventures unit.

The shares last traded at $3.345, and have gained 40 percent over the past 12 months. The stock is rated an average 'hold' based on 10 analyst recommendations compiled by Reuters, with a median price target of $2.83.