ASB chairman resigns from GPG board

Gavin Walker stands down citing conflict of interest.

Guiness Peat Group director Gavin Walker will resign from the board due to conflict of interest.

The resignation, according to a statement, is effective tomorrow.

No details were given as to the conflict, but Mr Walker serves as chairman of ASB Bank and on the boards of Lion Nathan National Foods, the Guardians of the NZ Superannuation Fund and Commonwealth Securities.

He joined the GPG board 10 months ago as one of three new independent directors.

GPG voted on June 8 to sell down the company's assets and return the proceeds to shareholders.

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