Macquarie International Infrastructure Fund's CEO John Stuart to resign

MIMAL is currently undertaking a search for a new CEO who will replace nr Macquarie International report.

Macquarie International Infrastructure Fund (MIIF) announced that the Chief Executive Officer (CEO) of Macquarie Infrastructure Management (Asia) Pty Limited (MIMAL), Mr John Stuart, will be leaving the company and Macquarie Group(Macquarie) at the end of February 2012.

MIIF Chairman, Mr Heng Chiang Meng, expressed his appreciation of Mr Stuart’s contribution saying: “On behalf of the MIIF Board, I would like to thank John for his contribution to MIIF over the past three years. Under John's leadership, MIIF has become a more focused business with investments located entirely in Asia. He leaves MIIF with an attractive portfolio of investments which are appropriately funded for the future. We wish John all the best in his future endeavours."

Mr Stuart joined Macquarie in 2004 and was appointed CEO of MIMAL in February 2009.

As CEO, Mr Stuart led the successful divestment of MIIF’s investments in Macquarie European Infrastructure Fund, Canadian Aged Care and Arqiva, thereby furthering MIIF’s focus on direct Asian investments. In addition, he oversaw MIIF’s further investment in Taiwan Broadband Communications increasing MIIF’s interest to 47.5 per cent from 20.0 per cent. These actions resulted in an increase in MIIF’s dividend in a period of uncertainty in the global economic environment, according to a MIMAL.

MIMAL is currently undertaking a search for a new CEO and an announcement will be made in due course. Mr Francis Kwok, a member of the MIMAL Board and Senior Managing Director of Macquarie, will take the position of interim CEO of MIMAL.