18 December 2003 Media Statement

Waring to Reserve Bank Board

Dr Marilyn Waring has been appointed to the Reserve Bank Board to replace Ruth Richardson whose term expires on February 3, Finance Minister Michael Cullen announced today.

“Dr Waring’s experience equips her well for the task.

“She is currently Professor of Public Policy at Massey University and has written extensively on the economics of women’s work, equality and human rights. She has also consulted on a range of projects in a number of developing countries.”

Paul Baines, a former Chief Executive of CS First Boston, has agreed to serve a second five year term, beginning on 1 July.

He is a company director whose current directorships include: Fletcher Building Limited; Gough, Gough and Hamer Ltd; EDS (New Zealand) Pension Fund Ltd; Wrightson Ltd; and Telecom New Zealand Ltd.

Other non-executive directors are John Goulter; Arthur Grimes (Chair); Alison Paterson; Ted Thomas; and Hugh Fletcher.

ENDS

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