Simon Power hands over SOE portfolio
UPDATED: Simon Power has handed over the state-owned enterprises portfolio to Tony Ryall, effective immediately.
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UPDATED: Simon Power has handed over the state-owned enterprises portfolio to Tony Ryall, effective immediately.
Mr Power spoke out quickly to stress the change in portfolio was his decision and based "purely around [his] transition to private life after the election."
He said it was the only option and a necessary step to ensure transparency.
"The type of work I'm interested in, in the private sector, has the potential to bring me into the wider orbit of the SOEs, and I felt I could not continue in my current role without risking a conflict of interest, whether real or perceived," he said.
"I have thoroughly enjoyed my time as minister of SOEs, first as the government got the boards to sharpen their pencils, and then as we started work on the mixed ownership model. I support that work 100% – in fact, I have been one of the main drivers of it for the past 18 months."
Prime Minister John Key said Mr Power approached him yesterday requesting the portfolio be reassigned.
The change in portfolios takes effect immediately and comes less than 24 hours after Mr Power announced 18 new SOE board appointments.
He said last month he would retire from Parliament at the November election but has not said what he will do then. This announcement fuels speculation that he will be involved in the government's plan to partially sell down selected state assets.
NBR staff
Wed, 13 Apr 2011
Wed, 13 Apr 2011
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Simon Power hands over SOE portfolio
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