Jane Freeman, chair of childrenswear retailer Pumpkin Patch [NZX: PPL], has been appointed to the board of listed property investor Kiwi Income Property Trust's [NZX: KIP] manager.
Freeman will sit on the board of Auckland-based Kiwi Income Properties, the property trust's manager, as an independent director, it said in a statement. She is currently a director of Foodstuffs North Island, ASB Bank and winemaker Delegats Group, and has previously been on the boards of Air New Zealand, SkyCity Entertainment Group, St George Bank NZ, Albert Street Dental, Publicis Group NZ, and Sheffield.
"Ms Freeman's wide knowledge of New Zealand business and her experience as a director will be invaluable in assisting us to continue to deliver upon our strategic objectives," chairman Mark Ford said. "Her experience in the New Zealand retail sector will also be highly valued."
Kiwi Income is New Zealand's second-largest listed property trust. Last year it internalised its management contract, paying Commonwealth Bank of Australia $70.5 million.
The units last traded at $1.18, and have an average rating of 'hold' according to four out of six analyst recommendations surveyed by Reuters, with a median price target of $1.19.
(BusinessDesk)
Suze Metherell
Wed, 11 Jul 2018
Wed, 11 Jul 2018
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Pumpkin Patch chair Jane Freeman joins Kiwi Income Property board
40603