Geoff Hunt has said that he will step down from his post of Chief Executive Officer of the Kordia Group, which is a leading public sector communications and broadband company.

The company has also decided to axe the role of CEO altogether from the management structure from March this year. Kordia NZ CEO Scott Bartlett, Kordia Solutions Australia CEO Peter Robson and CFO Shaun Rendell, who until now reported to CEO Mr. Hunt, will directly report to the board of the company from March.

Kordia chairman David Clarke expressed that Mr. Hunt agreed to the decision to cut the post of CEO and noted that the move is not unusual in the twenty-first century. The board will continue to meet 11 times a year and arrange a phone conference in December and will not be required t add more meetings to the schedule.

Economic Development Minister Steven Joyce had earlier sad that the government is not planning to privatize the communications and broadband company as the break-even business is not likely to generate a significant price in the market compared to large power companies.