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Rangatira Limited Appoints New Ceo

Rangatira Limited Appoints New Ceo

On behalf of the Board of Rangatira Limited, Chairman Norman Geary today announced the appointment of Mr Ian Frame as the Company’s new Chief Executive. Mr Frame will replace the retiring Chief Executive, Rick Christie, at the end of March.

Mr Frame is a graduate in both engineering and business management and has experience in a broad range of industries. Most recently he has fulfilled a corporate development role with Australian-based Downer EDI Limited, and prior to that, managed Telecom NZ’s ConnecTel business unit. His other experience covers the health, passenger transport, capital investment, property development and construction sectors.

“We are very pleased to have attracted someone with such a broad range of skills and experience”, said Mr Geary, “and to have done so in time to provide continuity when Rick departs.”

“We believe Ian will be very well suited to the role and will be fully capable of developing and maintaining Rangatira’s pre-eminent position in the New Zealand investment market”, Mr Geary said.

Rangatira owns and manages a $110 million capital fund with most of its investments in equity positions. Its unlisted equity holdings are in small to medium sized enterprises in New Zealand that have sound growth potential. Through the collective experience of its Board and management, Rangatira actively manages these investments to fully develop their potential, whilst providing a steadily increasing stream of dividends. Rangatira also has approximately $40 million in shares in listed equities in New Zealand and Australia.

Mr Geary said, “Mr Christie joined Rangatira in 1999, bringing with him a wide range of experience from his previous appointments with the oil industry and as CEO of Cable Price Downer, Tradenz, and the Game Industry Board, and as a company director of a number of listed companies and SOE’s.

This proved to be of benefit to Rangatira, which substantially lifted its investment activities over the period. Rick drove eight new acquisitions to Rangatira’s unlisted portfolio, including major shareholdings in Auckland Packaging Limited, Kapiti Cheeses Limited, Tecpak Industries Limited, Te Kairanga Wines Limited, and Vita New Zealand Limited. In addition, in 2000, Rangatira merged its subsidiary Medic Corporation with Ebos Group, which was beneficial for both companies.

Rick leaves Rangatira to further his interests as a Company Chairman and Director in both the public and private sectors.”

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