Mighty River Power’s longest-serving director to retire

Mighty River Power’s longest-serving director, Tania Simpson, has advised that she will retire from the Company’s Board in June 2015.

Mighty River Power Chair, Joan Withers, said Ms Simpson’s tenure of more than 13 years – from the Company’s beginnings as a State Owned Enterprise, through a significant evolution of the business and successful listing in 2013 – spoke of the high regard in which she is held, both commercially and throughout Maoridom.

Ms Simpson, of Tainui, Ngai Tahu and Nga Puhi descent, was appointed to the Reserve Bank Board in June 2014 and is also a director of AgResearch and a member of the Waitangi Tribunal.

“The experience and mana that Tania has brought to our Board table will be difficult to replace. And I am grateful, as we say haere ra, that we will have Tania's support through the process of recruiting a new director and the time to find a replacement with the appropriate skills.”

Mrs Withers said Ms Simpson had played a key role as Chair of the Human Resources Committee in guiding the Company's succession planning and in the recruitment of the new CEO, Fraser Whineray.

“Tania has also been vital to the way we have instilled a deep understanding of kaitiakitanga (custodianship) in our governance and in continuing to build relationships with both iwi and Maori landowners. This has been a foundation for Mighty River Power, and how we have approached harnessing indigenous resources, sustainably, to provide an engine of growth and wealth to New Zealanders.”

Tania Simpson said her time with Mighty River Power had been hugely rewarding with Mighty River Power’s partnerships aligned to her deep passion for Maori development: “Good governance requires fresh faces and, after providing stability through the CEO succession phase and completing the IPO forecast period, now is the right time for me to be stepping down and providing an opportunity for someone else,” she said.

Mighty River Power will retain a complement of eight directors on its Board with an appointment planned to be announced prior to the end of Ms Simpson’s term on 30 June 2015, Mrs Withers said.

ENDS

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