Changing Of The Guard At Northpower Electric Power Trust

After nine terms as Chair of the Northpower Electric Power Trust, Erc Angelo has stepped down and remains as a Trustee.

Phil Heatley is elected as the new Chair and Sheena McKenzie is continuing as Deputy Chair.

Mr Angelo was the first elected Chair of the Trust which began in 1993. At the time, the electricity asset value of Northpower was $47 million and over Mr Angelo’s tenure that has grown to over $300m, plus Fibre Assets of almost $100m – success he says is down to the strong governance of Northpower Limited’s Directors and staff.

The Trustees hold the shares in Northpower Ltd on behalf of all consumers connected to the Northpower networks in Kaipara and Whangārei districts.

“As Trustees, we don’t run the company. One of our main responsibilities is to appoint the best Directors to achieve the best outcomes for Northpower Ltd and we have consistently done that over the past 29 years. I am proud of how well the Trust has performed,” says Mr Angelo.

“We have a strong relationship with the Directors and meet regularly during the year to keep abreast of the business and the broader electricity sector and regulatory environment.

“The other important part of our work as Trustees is to provide good governance and ensure the shareholders are well represented.”

Mr Angelo says it has been a privilege being Chair of the Trust for 29 years and he is looking forward to continuing to serve consumers in his Trustee role.

Mr Heatley and Ms McKenzie say the impact of Mr Angelo’s work, alongside many Trustees over the years, has been immense.

“We can’t thank Erc enough for the passion and effort he has put into his time as Chair. He has displayed astute governance throughout Northpower Ltd’s significant growth journey over the period of his tenure. It is a stand-out Northland business success story and Erc’s work has substantially benefitted the people of Kaipara and Whangārei in so many ways,” the pair says.

“The company is not only serving people exceptionally well now but it is firmly established to serve future generations and their communities in the years to come.”

Since 1993, Northpower Ltd and the Trust have given back over $264m to Northpower’s consumers while also contributing millions of dollars in sponsorship to the life-saving Northern Rescue Helicopters and helping numerous other community initiatives, groups and causes.

Northpower’s consumers are invited to lunch and the 2023 Northpower Trust AGM from 12.30pm at Northland Events Centre, 51 Okara Drive, Whangārei on Wednesday, July 26. The AGM will start at 1pm.

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