Thursday 21 Mar 2002

ACT Finance spokesman MP Rodney Hide was sorry to hear today that the Managing Director of NZ Post's Transend was stepping down on 31 March for "health and lifestyle reasons".

"I had hoped that Mr Stein would be able to appear before the Finance and Expenditure Select Committee to answer MPs' questions about Transend's operations before the Committee completes its review.

"I have a number of concerns about Transend - I had hoped to put them to the Managing Director directly.

"It may still be possible. Mr Drew Stein will be on sick leave between 31 March and 1 May when he will take medical retirement. After 1 May, Mr Stein will be engaged by Transend as an independent contractor for up to 60 days for the sum of $80,000 - equivalent to a daily rate of $1,333 (including GST)".

"Unfortunately the Committee has to complete its Financial Review by 29 April, just two days before Mr Stein returns to work.

"I hope that Mr Stein will be well enough to appear before the Committee before that date. If he isn't, I will be seeking leave of the Committee to extend the review further so that Mr Stein has a chance to appear and give evidence when he is once again well enough to undertake consultancy work," Mr Hide said.

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