Retiring chairman Gary Paykel has announced a new five-member board of directors to govern Emirates Team New Zealand.
The move comes after Economic Development Minister Stephen Joyce called for a stronger governance structure if the team wants to be considered for additional sponsorship.
In October Mr Joyce pledged $5 million in interim funding and is waiting for a formal application from the team for the next cup bid.
Grant Dalton will assume the position of CEO, reporting to the board. So far, it’s unclear the role that Dean Barker will play.
Mr Paykel says in a statement the new board has a range of skills and in-depth experience in business and technology, as well as past experience with the team and the America’s Cup.
The new board chair, Dr Keith Turner, is a former chief executive and experienced company director.
The board’s first tasks include reviewing the Protocol, the document which governs the conduct of the America’s Cup; assessing the possibility of mounting a credible challenge from New Zealand; and preparing a business case for further government sponsorship.
Oracle, the defender of the America’s Cup, is expected to make the Protocol public this week, a statement from Team NZ says.
“This is a strong group of directors who will work closely with all stakeholders, including the government, as we make an assessment of mounting a challenge in 2017,” Dr Turner says in a statement.
“Should the board determine that a challenge is credible, I expect the government will then decide whether to invest in a challenge and if so, seek a further appointment to the board,” Dr Turner says.
Mr Joyce has said the board must have one or two Crown-approved directors as a condition of further sponsorship.
The details of the management structure and the operating model will be worked through as part of preparing the business case for any challenge, a team statement says.
Dr Keith Turner (chair): Dr Turner is the chairman of Fisher & Paykel Appliances, deputy chairman of Auckland International Airport, and a director of Chorus. In Australia he is a director of ASX-listed Spark Infrastructure. As part of his Spark responsibilities he is a director of South Australia Power Networks and Victoria Power Networks. He is a former chair of Solar City and has significant experience with small, technology startups.
Dr Turner was chief executive of Meridian Energy from 1999 to 2008. Prior to that, he worked as a private energy consultant advising a range of large corporate clients and government.
Sir Stephen Tindall: Sir Stephen is the founder and director of the Warehouse Group and has had a long association with Emirates Team New Zealand. He’s best known as a businessman, philanthropist and investor.
As an investor in New Zealand enterprises, he has made substantial investments through K1W1 and other vehicles as seed and venture capital into a large number of startup and early-stage businesses from biotech, environmental technology, electronics, high tech, software and other businesses with high export potential.
Sir Stephen and his wife, Lady Margaret, established the Tindall Foundation to focus New Zealand on improving the performance of families and social services; supporting community-based initiatives that create employment and encourage enterprise; supporting the environment and preserving biodiversity; promoting generosity and giving.
In 2009, he was made a Knight Companion of the NZ Order of Merit, 2007 Distinguished Companion of the NZ Order of Merit; 2006 The Sir Peter Blake Leadership Medal.
Greg Horton: Mr Horton is one of the founding directors of Harmos Horton Lusk, an Auckland-based specialist corporate legal advisory firm.
In his legal practice, he specialises in mergers and acquisitions, takeovers, corporate law, governance, strategic and board advice and also structures and advice for high net-worth families.
He is a director of Fulton Hogan, New Zealand Funds Management and Tappenden Holdings, and is a trustee, director and investment committee member of a number of other entities.
Tina Symmans: Ms Symmans is a director of Forsyth Barr, a member of the Takeovers Panel and chairs Williams Warn, a private company. Tina was previously a director of PSIS (Co-operative Bank) and Turners & Growers.
She has more than 25 years’ experience in advising companies, particularly in strategic communications and corporate and government relations. Connected to the National Party, Ms Symmans was a key adviser to the party on its 2008 election campaign.
Before 2012, she was in senior management at Telecom as director of corporate relations and was on the team which ran the demerger program forming Telecom and Chorus.
Bob Field: Mr Field recently retired from a career in the international motor industry, including 30 years as managing director and chair of Toyota New Zealand. Former roles include chair of the NZ Business Council for Sustainable Development, Chair of WWF and president of the Motor Industry Association.
Current roles include chair of CMD Nominees and directorships of Kiwirail and NZRU. Mr Field has been closely involved with Team New Zealand for 25 years and six successive Americas Cup campaigns as a sponsor, an adviser and mentor for the team.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Business Week in Review with Grant Walker & Andrew Patterson
- Matthew Hooton on what a National win in Mt Roskill could mean for Labour
- Tim Hunter on Sky's awkward Chinese problem
- Paul Goldsmith's attempt at insolvency law reform has been hijacked by a 'basked of deplorables' says Damien Grant
- First Retail Group's Chris Wilkinson on Pumpkin Patch's worsening situation