Rt Hon Winston Peters
Minister for Racing

13 December 2006

Stiassny appointed chairman of Racing Board

Auckland accountant and lawyer Michael Stiassny will be the new chairman of the New Zealand Racing Board, Racing Minister Winston Peters announced today.

Mr Peters said Mr Stiassny would take up the position on 1 January, replacing Warren Larsen, who was not reappointed after losing the support of the thoroughbred code.

“Given the importance of co-operation among the three codes, it is the right time to introduce a new chairman," Mr Peters said.

"Mr Stiassny will bring a fresh approach to the challenges facing the industry now and in the future. He has considerable leadership experience on the boards of a number of publicly listed companies, and is currently chairman of Vector, NGC Holdings and Metro Water. He has also been a prominent member of the Auckland Racing Club since 1982.

“This is an important time for the racing industry. The benefits of the new tax regime are beginning to be felt, and it is vital that the Board, as the industry leader, shows the necessary leadership to unite the codes and see through initiatives that will further revitalise all forms of racing in New Zealand.

“Warren Larsen deserves thanks for his leadership of the inaugural New Zealand Racing Board. Under his chairmanship, it laid the foundation for the future success of the racing industry," Mr Peters said.

Board members Julie Crengle and Alan Jackson, who current terms have expired, have also been reappointed. Their terms, and that of Mr Stiassny, will expire on 31 July 2009. The terms of the remaining board members – Warren Bell, Thayne Green, Ray O'Connor and Alistair Sutherland – expire on 31 July 2008.

ENDS

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