Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tranz Rail Board Reflects New Zealand Base

For Immediate Release
23 July 2000

Tranz Rail Board Reflects New Zealand Base

Two New Zealand directors Wayne Walden and Jon Cimino have joined the Board of Tranz Rail with overseas-based director David Richwhite deciding to retire.

The changes reflect a commitment made in April to change the Board make-up to reflect its new ownership, which is now largely New Zealand and Australian-based with about 60% of shares held in New Zealand.

Tranz Rail said further changes to the Board were imminent following confirmation of available candidates and the likely resignation of more overseas-based directors.

“I’m pleased to be able to welcome two high calibre and experienced New Zealand directors to our Board,” Tranz Rail Managing Director Michael Beard said today.

“When the ownership changes occurred earlier this year we expressed a desire to change the Board to reflect that ownership and I’m pleased to see that come to fruition. That process began when John Loughlin replaced Carl Ferenbach in February. We expect five further retirements and two more new appointments within the next three months, reducing the Board from its current maximum of 10 to seven members.

“We have taken our time to make certain we have high calibre replacements who will inject fresh thinking to the company.”

Wayne Walden is the former Group Managing Director of Farmers Deka Ltd. He is now a director of sports Foundation, Mighty River Power, Meat New Zealand and Agritec Ltd. He is also founding Chairman of the Project K Trust youth development programme.

Jon Cimino is a former Director and Deputy Chairman of the New Zealand Stock Exchange and currently sits on the NZSE Surveillance Panel. He is a director of Waste Management NZ Ltd and Genesis Research and Development Corporation Ltd. He is also Chairman of Arnold Ltd, a joint venture between NZoom and TEK Travel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>


24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>


EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>


Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>


'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>