New Zealand electricity retailer Mercury NZ said Vince Hawksworth will retire as CEO, effective Aug. 31.

Stew Hamilton, currently the company's executive general manager for generation, has been appointed as his successor.

Hawksworth has been at the helm of Mercury since March 2020. During his tenure, he has steered the company through the construction of the Turitea Wind Farm and completed the acquisitions of Tilt Renewables and Trustpower retail business.

Hawksworth will work closely with Hamilton during the transition to ensure a seamless leadership handover.