Airport AGM
The annual meeting of shareholders of Auckland International Airport Limited (AIAL) was held at the TelstraClear Pacific
Events Centre today. All resolutions put to the meeting were passed by shareholders. Full details of the polls conducted
are set out below.
Shareholders approved a $100,000 total quantum increase in directors’ fees at the Auckland International Airport Limited
annual meeting today. Directors’ fees were last increased in 2004.
The increase takes the total quantum of annual directors’ fees from $560,000 to $660,000.
Retiring board chairman Wayne Boyd said, “The board’s policy is to regularly seek independent advice on the appropriate
level of directors’ remuneration.”
The independent advice from Egan Associates was to recommend a fee increase in accord with current practice in New
Zealand and Australian companies of comparable scale and to reflect the increasing level of governance and time
commitment required of directors pursuant to national and international standards.
Mr Boyd said the directors believed the proposed fee increase was appropriate because of:
the need to attract suitably qualified new directors with competitive fees;
the requirement for an appropriate blend of qualifications and experience to address orderly succession planning; and
the increasing complexity and risk in the role of directors and the additional time required for board and committee
work.
Dr Keith Turner was re-elected to the board, and board member John Maasland retired and was elected. Following the
annual meeting, the board of directors elected Mr Maasland as chairman, replacing Mr Boyd on his retirement.
Mr Maasland has been a director since August 2006 and has held a number of senior executive positions with Wilson & Horton Limited, including chief executive officer. He was appointed to the board of Carter Holt Harvey in 1998 and
became chairman in 2003. Other appointments include chairman of the New Zealand Radio Network Limited, South Auckland
Health Foundation and the Royal New Zealand Ballet and director of APN News & Media Limited, Auckland Regional Chamber of Commerce, Macquarie Goodman (NZ) Limited, Delegat’s Group Limited, Waterman
Holdings Limited and Woosh Wireless Limited.
On his election as a director, and as chairman, John Maasland paid tribute to Wayne Boyd’s exemplary service as chairman
over the past 10 years. He said it was an honour to succeed Mr Boyd and he looked forward to leading the board and
working closely with management to ensure the company continued to prosper to the benefit of its shareholders, customers
and wider community.
Deloitte was confirmed as company auditors. Directors were authorised to fix the fees and expenses of the auditors.
Shareholders also passed by acclamation a vote of thanks to retiring chairman, Wayne Boyd, for his contribution to the
company during his tenure, both as a director and chairman of the board.
Results of polls
Resolution For Against %
1. To re-elect Dr Keith Turner as a director 602,965,250 250,256 99.96%
2. To elect Mr John Maasland as a director 602,443,492 656,254 99.89%
3. That the total quantum of annual directors’ fees be increased by $100,000 from $560,000 to $660,000, such amount to
be divided among directors as they deem appropriate 439,868,721 2,434,980 99.45%
4. That the directors be authorised to fix the fees and expenses of the auditors. 599,844,849 974,939 99.84%
ends