The chief executive of Industrial Research Limited, the Crown Research Institute being folded into the new advanced technology institute, has announced his resignation after six and a half years spent restoring the once-ailing science body’s financial performance. Shaun Coffey said he was leaving “after careful consideration”, and following IRL’s acknowledgement in the last week through a series of awards and …

Heartland New Zealand, which expects to hear back on its banking licence application before Christmas, sees flat profit in the 2013 financial year, and has announced a pre-Christmas special dividend. The Auckland-based lender told shareholders net profit will probably be between $21 million and $24 million in the year ending June 30, 1013 at today’s annual meeting. That compares to …

Douglas Pharmaceuticals, a New Zealand-owned generic drug manufacturer serving local and export markets, is to stay in family ownership after testing the market, following numerous approaches from would-be buyers. Founder and managing director Graeme Douglas has backed keeping the Henderson-based company in family ownership after the company held a formal tender process through an information memorandum to prospective buyers.. A …