Invercargill Licensing Trust GM Greg Mulvey Retiring

After a 40-year career with the Invercargill Licensing Trust, general manager Greg Mulvey has announced his intention to retire, planned for year end.

“The time is right – for the Trust and myself,” he said. “My hope was always to leave the Trust in a much stronger position and I think we’ve achieved that.”

“It’s been a huge privilege to work with a great team across all levels of this organisation. We’ve got some fantastic people that have made the Trust what it is. It’s a family.”

Mulvey joined the Trust in 1977 as an accountant, progressing through the ranks to become the youngest general manager at the age of 34 in 1987 and dedicating nearly 30 years to the role.

His leadership undoubtedly had a positive impact commercially with several new businesses established and all within the Trust’s extensive portfolio improved.

“We’ve always had an eye to the future to make sure we stay in touch with market trends and deliver to the market segments which we concentrate on,” Mulvey said.

“I believe we’re in an excellent position to face the future with confidence and with a new hotel which will hopefully be built debt free. But it’s all predicated on one key assumption and that is that the Trust’s existing trading rights will not be lost.”

Mulvey has been influential in changing public perceptions of the Trust and remains passionate about the important role it plays in the community.

“Because we’re a trust that retains some of its traditional trading rights, it naturally operates in a glasshouse. It keeps us sharp and it means we’re always focused,” he said.

“It’s owned by, and is accountable to, the people of Invercargill. That’s where the real satisfaction is – you’re generating profits for an organisation where all your endeavours go back into the community. I believe that makes it one of the most rewarding roles any senior executive could aspire to.

“Yes, it’s a commercial enterprise but everything you do ultimately benefits the city. We’ve always had a goal to maximise our returns to the community so that was a real focus in the early years and continues to be. In the past five years that return equates to over $43 million from the ILT and ILT Foundation.”

Board chairman Alan Dennis said Mulvey’s contribution to the Trust was unrivalled.

“We have a huge gap to fill and the challenge that we have to maintain the momentum of the Trust is not underestimated by the Board,” he said.

“Greg has moved the Trust from a position of where it was underperforming to what is now the leading trust in the country. He leaves at a time where we’re the busiest we’ve ever been and with exciting ongoing projects. We’ve got a strong future.

“Greg is considered a fount of knowledge and highly regarded nationally in the licensing trust movement. We are often hailed as the benchmark and that’s a credit to Greg and his management team.”

The Board would work with a recruitment specialist to find a suitable replacement with the aim of completing the process by the end of the year, Mr Dennis said.