Shareholders' Association to target director performance

New Zealand Shareholders' Association chairman Bruce Sheppard is targeting directors he deems to be ineffective in a campaign next year.

Mr Sheppard said he still has to clear the campaign with the association's board but his plan is to move motions for the removal of directors at annual meetings, rather than just oppose their election when they come up for re-election.

This strategy will ensure a debate at meetings.

Mr Sheppard said there are a number of directors of New Zealand public companies who seem to hang on against all odds to the positions that they hold.

There were no women directors on Mr Sheppard's list. Mr Sheppard is not into diversity for diversity's sake. "I'm only into competence. That said, there are no incompetent women on boards I've met thus far," he said.