INDEPENDENT NEWS

Board appointed for new ARC subsidiary

Published: Tue 22 Jun 2004 02:55 PM
Board appointed for new ARC subsidiary
22 June 2004 The Board of Directors for Auckland Regional Holdings, announced today, features a solid line up of professionals with experience that spans both public and private sectors.
Auckland Regional Council Chair Gwen Bull, says that together, the new directors designate bring the necessary skills and experience that will help ensure Auckland Regional Holdings (ARH) is in a position to operate effectively and efficiently from day one.
“These directors bring a wealth of experience that will enable ARH to meet its responsibilities of owning and managing the $1.3billion worth of assets, including shares in Ports of Auckland,” she says. “We have the right mix of skills and experience across a range of activities, and across both the public and private sectors.”
ARH will take over from Infrastructure Auckland (IA) from 1 July 2004 when the Local Government (Auckland) Amendment Bill takes effect.
The six ARH directors designate, selected by the appointment panel are: Judith Bassett – ARC Councillor and senior lecturer of history at the University of Auckland. Charles (Chas) Cable – independent corporate advisor and past director of investment banking at Macquarie New Zealand. Peter Hubscher - former Managing Director of Montana Wines Limited, current director NZ Wine Institute and NZ Symphony Orchestra. Dr Joce Jesson - Director of Research Development, and Principal Lecturer at the Auckland College of Education, current director of Infrastructure Auckland. Susan Paterson - Director of Transpower New Zealand and Tower Health and Life, who has previously sat on the Energy Efficiency and Conservation Authority board. John Robertson - currently Chair of the Infrastructure Auckland Board, and former MP for Papakura.
The appointment panel responsible for selecting the board was made up of three ARC councillors and two external representatives. More than 70 applications were received, a number well in excess of those usually received for directorships in New Zealand.
The Appointment panel chair, ARC Councillor Bill Burrill says that all applicants were of a high standard and evaluating applicants based on pre-agreed competencies is what has allowed the panel to select the best people for the job.”
Cr Burrill also says that the appointment of ex Infrastructure Auckland (IA) board members will provide an element of continuity between IA and ARH, helping to ensure a smooth transition into the new entity. The ARH board will be responsible for a range of activities, including the preparation of a Statement of Intent between ARC and ARH, and the development of ARH’s long term funding plan.
All six appointees will remain ‘directors designate’ until legislation is passed and ARH is established. Once the Bill comes into effect, all Directors will be formally appointed.
As part of a family of organisations, ARH will work closely with the ARC and the Auckland Regional Transport Authority (ARTA) – a second subsidiary of the ARC to be established on 1 July.
ENDS

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