KEY POINTS:
Chief executive of government funding agency SPARC Nick Hill has announced his resignation.
Hill, the first and only chief executive since Sport and Recreation New Zealand was formed in 2002, is planning to return to the private sector.
He tendered his resignation at the SPARC's monthly board meeting yesterday, effective on March 28.
Hill said that when he started at the crown entity charged with promoting and funding sport and recreation in New Zealand, he envisaged himself being in the role for five years.
At the start of this year he signalled to chairman John Wells that his tenure was nearing an end.
"It's been nearly six years, and that's long enough for a chief executive in a role of this nature," Hill said in a written statement.
"I've been thoroughly challenged, but fresh energy and ideas are needed to help maintain the momentum.
"It's the right time for me to move on to a new challenge, and to develop my career in a more commercial role.
"I'm excited about returning to a more commercial role, perhaps returning to the energy and resources business."
Wells praised Hill's combination of private sector skills and knowledge of government that had been of enormous value to the organisation.
Hill took SPARC through its establishment phase, making a series of decisions about shifting from what was predominantly an annual grants approach to funding, to an investment-focused approach.
In nearly six years at the helm, Government funding of sport and recreation increased from $45 million to $115 million.
An independent review of SPARC's progress was undertaken by Deloitte in 2006 and concluded that the organisation had made "enormous progress".
- NZPA
