Rada gains Paxus man

Press, 1 February 1986, Page 21

Rada gains Paxus man

By

SIMON LOUISSON

in

Wellington Rada Corporation, the new investment arm of New Zealand Forest Products, has announced the appointment of Mr George Wheeler as its chief executive.

Rada, expected to. list on the New Zealand and Australian stock exchanges next month, is the largest public company ever floated, with a capital of SIOOM. Sharebrokers spoken to were mostly cool about the appointment, many expressing disappointment that a more high-profile person had not been appointed. Mr Brian Gaynor, of Jarden and Company, said that investment companies are all driven by one or two people because all the decisions are taken at the top. He said it is a very specialised area. He expected the appointment to have little positive effect on the

price of Rada rights which are now trading just on their issue price of 20c.

Mr Wheeler is at present general manager and a director of Paxus Informations Services, part of NZI Corporation. Paxus profits have doubled each year and in the three years Mr Wheeler has been at the helm its revenue base has Strom S2OM to

He started his career with NZI and then worked in Australia, North America and the United Kingdom. The Rada chairman, Mr Bob Gunn, says that Mr Wheeler, 39, qualified on all the criteria for the position. “He has the required combination of international experience, formal business education, leadership, investment management and acquisition experience,” said Mr Gunn.