TGH appoints new independent director and advisor

Sir Henry van der Heyden has been appointed to the board of Tainui Group Holdings (TGH) as an independent director.  Sir Henry will replace John Spencer as one of the board’s three independent directors, Tainui Group Holdings said today. This appointment was unanimously approved by Te Arataura, TGH’s shareholder.

Mr Spencer has resigned from the TGH board effective 30 June, 2012 and Sir Henry will become a director with effect from 1 July, 2012. Mr Spencer, in his 10th year as Chairman, said: “that as much as he enjoyed being involved with Waikato-Tainui, it was time for a change.” He welcomed the appointment of Sir Henry. The board will elect a new chairman at its first meeting following the changeover.

Mr Spencer is the Chairman of KiwiRail and WEL Networks. He is also a director of DairyNZ, Tower Ltd, Dispute Resolutions Ltd and is an Independent Advisor to the Board of the Mitre 10 Group. Sir Henry van der Heyden is the Chairman of Fonterra. He is also a director of Auckland International Airport Ltd, Rabobank Australia, Rabobank NZ, Elevation Capital Management Ltd, Pascaro Investments Ltd and Manuka Ltd.

Tainui Group Holdings said it had also appointed Joanna Perry as a specialist advisor to the board with effect from 1 April, 2012. Ms Perry is a Chartered Accountant and professional director. Her board appointments include Genesis Energy, Trade Me, The Co-operative Bank, Rowing New Zealand and Sport and Recreation New Zealand.

ENDS

For further information contact Mike Pohio CEO 021 555 978

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