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Auckland Airport, Warehouse back plan to deepen pool of directors

Auckland International Airport and Warehouse Group are backing a scheme to deepen the country's pool of directors and upskill a new generation of business people.

Under the Future Directors scheme, which is to be administered by the NZ Institute of Directors, young professionals will be placed on the boards of public companies for 12 months.

While they will not participate in decision-making, they will be involved in board discussion, according to the Shareholders' Association, which is backing the project. Those chosen won't be offered any permanent work by the companies at the end of the 12 months.

Auckland Airport has placed Genesis Energy's general manager of strategy and business technology Sheridan Broadbent on its board under the scheme, the airport company said today.

Joan Withers ,deputy chairwoman of Auckland Airport, told Fairfax Media last September that young people "are under-represented" in the boardroom. "They have great, fresh ideas and the way that our education system is turning them out, they are lateral thinkers, entrepreneurial and quite bold."

The programme has been driven by Warehouse founder Sir Stephen Tindall, Vector chairman Michael Stiassny and the Shareholders' Association.

"Directors frequently begin their careers in smaller organisations where the support and best practice governance framework may be less developed," Mr Stiassny says. The new scheme will address that weakness.

Shareholders' Association director Des Hunt says the association has long expressed concerns about the size of pool of qualified people able to take on senior governance positions.

Participants will be assigned a director mentor and attend board and subcommittee meetings. They are required to commit to confidentiality and may be excluded from some meetings.

(BusinessDesk)

Comments and questions
7

Great to see our young people learning from NZ's large pool of stellar professional directors.

What will they learn, exactly?

What will be learnt from the Vector chairman ...

I assume the director liability issue for the YPs will be clear cut? The idea was looked at for selected SOEs several years ago and the liability issue put it in the hard basket - certainly as far as then "senior" directors were concerned.

How do the YPs sign up? Children of the ageing old boys' network?

So will they be shadow directors then?

Good initiative - well done. Wonderful opportunity and something with some good mentoring will be of enourmous value in coming years

De facto accreditation without putting in the hard yards.