Recently dumped from the Securities Commission and one of six Nuplex directors facing charges from the market watchdog, David Jackson has been re-appointed as chairman of the New Zealand Refining Company.The Auckland businessman was one of four directors
Recently dumped from the Securities Commission and one of six Nuplex directors facing charges from the market watchdog, David Jackson has been re-appointed as chairman of the New Zealand Refining Company.
The Auckland businessman was one of four directors up for re-election by rotation at the Whangarei-based refinery’s AGM yesterday.
Mr Jackson was re-elected as one of three independent directors and reappointed board chairman as a result.
Chief executive Ken Rivers said during the AGM Mr Jackson was commended from the floor on his performance as chairman over the last four years.
“David’s guidance has been instrumental in developing a clear strategic intent and a future direction for or business as well as being a catalyst for raising our aspirations and standards.”
The Securities Commission last week filed civil proceedings against Nuplex and six current and former directors, including Jackson (a non-executive director), for allegedly breaching continuous disclosure obligations.
Last week Mr Jackson resigned from the Securities Commission as a result endiing his membership since June 2005.
He also serves on the board of Fonterra and Pumpkin Patch.
Civil proceedings against Nuplex are the first continuous disclosure case brought by the commission and have the added interest of involving charges against one of their own.
