Management changes at Tainui Group Holdings

1 July 2022

Kirikiriroa-Hamilton, N.Z. – Tainui Group Holdings (TGH) has advised the resignation of GM Finance, Lyndon Settle and the appointment of Richard Jefferies to the role of Chief Financial Officer (CFO).

Lyndon Settle will step down in late September to take up the role of CEO at Tauranga-based investment company Quayside Holdings.

TGH Chief Executive, Chris Joblin thanked Lyndon Settle for his valuable contribution over the past six years.

“Lyndon has been a great team player and astutely stewarded our finances and banking relationships through a number of major acquisitions and divestments such as the sale of Go Bus, which he played a major role on, while also making significant positive changes in the farming and forestry functions at TGH. It’s been very pleasing to see Lyndon’s growth in the role during his time with us and we wish him all the best as he takes the next step in his career,” says Chris Joblin

Incoming CFO Richard Jefferies (Ngaati Korokii-Kahukura, Waikato-Tainui, Ngaati Raukawa, Ngaati Tukorehe) has been with the company for ten years, mostly recently in the role of GM Strategy and Commercial.

Mr Jefferies will assume the role on 1 October 2022, when Lyndon Settle finishes with TGH.

Chris Joblin welcomed the business continuity enabled by Richard Jefferies taking the CFO baton.

“During his decade with us, Richard has guided many of the critical business decisions that have helped grow the assets we manage on behalf our iwi, to around $1.7 billion. Richard has a strong background in accounting and finance, including a number of senior roles within and outside of TGH. More recently he has been integral to a number of our strategic initiatives including leading the development of Ruakura Inland Port and our hotels business,” says Mr Joblin.

Mr Jefferies currently chairs the Ruakura Inland Port JV and is on the boards of our hotels and commercial fishing interests. He was previously a senior consultant for KPMG, commercial manager at Open Country Dairy and held contract roles with New Zealand Rugby and Manchester City Football Club.

Mr Jefferies is a member of the Chartered Accountants Australia and NZ (CA), Institute of Finance Professionals NZ (INFINZ – CTP), and the NZ Institute of Directors.

“I’m excited to pick up the finance reins at a key time for our iwi as we work through financing our major development at Ruakura Superhub and other significant developments in the Hamilton CBD,” says Mr Jefferies.

TGH manages around $1.7 billion of assets for Waikato-Tainui. Major projects currently include the development of the 490-hectare Ruakura Superhub, a new centre for ACC in central Hamilton and the construction of the Te Arikinui Pullman Auckland Airport Hotel with joint venture partner Auckland International Airport Ltd.