The new Board makeup reduces the total number of Directors from ten to seven, including NZSE Ltd CEO Mark Weldon. Messrs Simon Allen (Chairman), Andrew Harmos, Tim Saunders, Neil Paviour-Smith and William Trotter make up the remaining Board members. The changes are part of a long-term Board strategy to reduce numbers and to ensure a majority of independent Directors.
Professor Trow and Mr Ricketts have been NZSE Directors since the Board's inception in 1988. Mr Craig joined them in 1992 and together they have made an enormous contribution as invaluable custodians of New Zealand's capital markets during a difficult period in our financial history. They all played an instrumental role in overseeing the demutualisation of the Exchange over the past 2 years.
Professor Trow is recognised as a leading authority on accounting and auditing practices in New Zealand and currently serves as Professor of Accountancy in Victoria University of Wellington. He is also a Director of Ryman Healthcare, Chairman of NZSE Index Management Ltd, Chairman of the Audit & Investment Committee of the Royal Society of New Zealand, and a Trustee of the Jack Shallcrass Educational Trust.
Mr Ricketts is a Consulting Partner in the leading New Zealand law firm, Russell McVeagh, an avid investor and company director. He was appointed Chairman of Lion Nathan in August 2001 after serving as a Director since 1981. Other current directorships include Spotless Group Limited, Todd Corporation Limited and he is the New Zealand Chairman of Royal and Sun Alliance Group Limited.
Mr Neil Craig is currently Managing Principal of ABN AMRO Craigs, one of New Zealand's most successful retail brokerages. Chairman Allen is the CEO of ABN AMRO New Zealand.
NZSE Ltd sincerely appreciates the contribution these gentlemen have made to serve broker members and public interest over the period of their tenure.
