Nick Wood leaves Ihug

Ihug has announced a new CEO to replace Nick Wood, co-founder of the ISP, despite earlier denying changes were happening.

Ihug says Wood is standing down as managing director in favour of Martin Wylie who has been CEO of Auckland-based law firm Simpson Grierson for two years. Before that Wylie was managing director of health insurance company Aetna and also spent nine years working for Telecom.

Wood has bought into a resort in Fiji and plans to spend more time there. However on Thursday he told IDGNet he was not leaving his role.

"No, what gave you that idea? That rumour's been doing the rounds for months hasn't it?" Wood had said when asked if he was standing down as director.

Wood also denied that his brother, co-founder Tim Wood, would be changing roles. "Not if he knows what's good for him."

Tim Wood will be Ihug's sales and marketing manager, a role the company says he has filled for some time although previous Ihug statements refer to him as "director".

Wood will maintain his shareholding in the company and his position on the board.

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