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NZX is pleased to announce its participation in the Future Directors Programme, an initiative designed to help identify and grow the next generation of New Zealand directors.
Administered by the Institute of Directors, the Future Directors Programme recognises talented executives who are interested in developing governance skills. Participants attend board meetings where they are able to observe and contribute to discussions in an advisor capacity, but are not involved in any decision making and have no voting rights.
The programme will operate within a well defined set of protocols at NZX, which are designed to maximise learning opportunities for the candidate, while not diluting the accountability of elected directors to shareholders. NZX’s motivation for joining the programme is entirely altruistic – widening the director talent pool. As such, the future director term is 18 months and the participant will not be offered a seat on the NZX Board at the end of the programme.
NZX Chairman James Miller commented: “Supporting the Future Directors Programme in a meaningful way reinforces NZX’s commitment to promoting diversity of leadership and developing future governance talent in New Zealand. Initiatives like this help to address board diversity, while allowing organisations access to wider skill sets. NZX is pleased to participate in this programme alongside other leading listed companies and state sector boards in New Zealand.”
New Zealand Shareholders Association CEO Michael Midgley applauded NZX’s decision to participate in the programme: “The NZSA is pleased to see NZX setting a great example for companies to follow to increase the skills, diversity and scope of the pool of future directors.”
NZX has appointed Anna Molloy as its inaugural future director. Anna is well known in the New Zealand market place, she was former buy-side equity analyst for Masfen Securities and Artemis Capital and sell-side equity analyst for ABN AMRO New Zealand. Anna is a Chartered Financial Analyst and graduated from the University of Auckland with undergraduate degrees in Commerce and Engineering. As such, she is eminently qualified for a Future Directors role at NZX.
Anna Molloy commented: “It is a privilege to be given the opportunity to develop my governance skills at NZX, a leading company which plays an important role in New Zealand’s economy. I am looking forward to observing and interacting with the experienced directors on the NZX Board.”
Further information about the Future Directors Programme can be found at:
