Macquarie Infrastructure CEO James Hooke hands over to Christopher Frost

  • After around eight years on the job
  • Accolades and praise for Hooke
  • Hooke will remain as executive at Macquarie Infrastructure and Real Assets
  • Hooke spoke at length and said 96 words

(exechange) — New York, September 11, 2017 — James Hooke, chief executive of Macquarie Infrastructure, hands over the reins. As announced by Macquarie Infrastructure Corporation in a news release and in a regulatory filing published on Monday, September 11, 2017, James Hooke leaves the post as chief executive officer at the company after around eight years on the job, effective early in 2018.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.7 years, according to data compiled by exechange.

Hooke’s duties are taken over by Christopher Frost, currently Chief Commercial Officer at Macquarie Infrastructure and Real Assets.

“Desire to move back to Australia with his young family”

The management change is explained as follows. Martin Stanley, chairman of the board of directors of MIC, said: “We look forward to [James Hooke’s] continued contribution to the success of MIC as a member of the board of directors, but accept his desire to move back to Australia with his young family.”

Hooke will remain as executive at Macquarie Infrastructure and Real Assets

Hooke will continue to work with Macquarie Infrastructure and Real Assets (MIRA), Macquarie Infrastructure said.

“Step down”

Macquarie Infrastructure said: “James Hooke, chief executive officer of the Company, is joining the MIC Board of Directors and plans to step down as CEO early in 2018.”

Macquarie Infrastructure further said: “On September 6, 2017, Mr. Hooke notified the Company that he intends to step down as chief executive officer early in 2018.”

Chaired by Martin Stanley

Macquarie Infrastructure Corporation is chaired by Martin Stanley.

Stanley is the Global Head of the Macquarie Infrastructure and Real Assets (MIRA) division.

On the job as CEO since 2009

James Hooke, chief executive officer of the Company, has been elected to serve as a director of the Company effective September 8, 2017, bringing the total number of directors to seven. Hooke is not expected to serve on any committees of the board of directors.

Hooke has served as the Chief Executive Officer of the Company since April, 2009.

During his tenure, Hooke as overseen the refinancing of the long-term debt of each of the Company’s operating entities, acquisitions and investments with an aggregate value of more than $4.0 billion and divestments with an aggregate value of approximately $500 million.

Hooke joined Macquarie Group in 2007 where he was responsible for corporate development and management of a portfolio company investment for Macquarie Infrastructure Partners Inc., the manager of two unlisted infrastructure funds responsible for investing and managing approximately $5.5 billion of investor commitments across a range of North American infrastructure businesses.

Hooke was also responsible for the management of several portfolio company investments for other Macquarie affiliates and clients.

Prior to joining Macquarie, Hooke served in various senior management positions with Fairfax Media Limited, the largest newspaper publisher in Australia and New Zealand.

In addition to extensive experience in the media industry, Hooke worked for five years as a management consultant for Bain & Company and Partners in Performance and as a lawyer for Phillips Fox Solicitors in Australia.

Hooke received a Bachelor of Arts and a Bachelor of Laws degree, both from the University of New South Wales.

Read the full story in the exechange report 38.2017 ($).