CEO and Board Succession

1
03.06.2025

CEO and Board Succession
Argosy Property Limited is today providing an update on its CEO and Board succession plans and
timing.
CEO Succession
Argosy’s CEO, Peter Mence, has advised that he wishes to step down as CEO in May 2027. The
extended notice period enables a smooth and well-planned leadership transition and reflects Peter’s
strong commitment to Argosy’s long-term success. The Board’s current expectation is that the search
for his successor will commence in the latter part of 2026.
Board Succession Planning
Argosy is also announcing its Board succession plan, a plan that has been developed to ensure
orderly Board renewal over the near term, maintaining a balance of continuity alongside fresh
perspectives aligned to the evolving needs of the business.
Chair Succession
Arrangements for the Chair succession are now in place with Board agreement that Martin Stearne
should take over that role from the conclusion of the 2027 Annual Meeting, at the end of the current
Chairman’s three-year term. Jeff Morrison, the current Chairman, will stand down from the Board at
that time. Martin will assume chairmanship of the Company’s Remuneration and Nominations
Committee later this year.
Director Re-elections and Elections
Directors Chris Gudgeon and Mike Pohio are nearing the end of their current terms, are supportive of
the commitment to ensuring the Company is well positioned for the future, and have advised that they
will not stand for re-election. Accordingly, both will retire from the Board at the conclusion of this year’s
Annual Meeting. Alex Cutler, who was appointed to the board in October 2024, is standing for election
and her election is fully endorsed by the board.
Argosy Chairman, Jeff Morrison, commented: “We are very grateful for Chris and Mike’s valuable
contributions over the last seven and six years respectively.”

END.
Peter Mence
Chief Executive Officer
09 304 3411
pmence@argosy.co.nz
Dave Fraser
Chief Financial Officer
09 304 3400
dfraser@argosy.co.nz