Mr Gibson, who has been a director of the company since 2016, replaces Paul Rea, who has retired.

Mr Rea had been a director since 2011 and chairman since December 2019.

In a statement, Mr Gibson thanked Mr Rea for his service to Port Otago.

He was good to work with and had a good working relationship with chief executive Kevin Winders, as well as the rest of the leadership team.

“Paul was very focused on doing the right thing by the company. It was a pleasure to work with him.”

Born and educated in Dunedin, Mr Gibson attended Otago Boys’ High School then the University of Otago, where he studied German and law.

His executive career started in Dunedin with Donaghys Ltd.

He was chief executive of New Zealand Trade and Enterprise from 2003 to 2009.

He previously held managing director and senior executive positions in dairy co-operatives and New Zealand public companies.

He is also a director of Livestock Improvement Corporation, Skills Consulting Group, Silver Fern Farms Ltd, ManageMyHealth Global Ltd and Omnieye Holdings Ltd.

He described his leadership as being about getting the best out of everyone, encouraging diversity of ideas and being inclusive.

“Then, when we reach a decision and have clear direction, I’m very focused on delivering.

“The port has been around for 150 years and we need to make sure it’s still around in 150 years.

“To do that, we have to achieve a good return on our capital, and meet the expectations of our shareholder and the wider community.”

Port Otago is wholly owned by the Otago Regional Council.

Last year, it paid a dividend of $13 million, up from $10 million the previous year.