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Brian Gaynor Resigns From Board

Brian Gaynor Resigns From Board

Posted On: Wednesday, 3 March 2004

The Board of the Guardians of New Zealand Superannuation today announced Brian Gaynor's resignation from the Board, effective 1 March 2004 .

One of New Zealand's most experienced and well known investment analysts, Brian Gaynor has joined Milford Asset Management as an Executive Director and shareholder. Milford Asset Management is an independent investment management company.

Commenting on his resignation, Brian Gaynor said: "I have thoroughly enjoyed the stimulation and experience of the Guardians of New Zealand Superannuation. I have resigned because it is vitally important that the integrity of the Guardians is maintained, and there are potential conflicts of interest between my new position and the Guardians."

Chairman of the Board, David May, said: "Brian has made a very significant contribution to the establishment of the New Zealand Superannuation Fund and we wish him every success in his new business venture."

Members of the Board of the Guardians of New Zealand Superannuation are appointed by the Minister of Finance following recommendations from an independent nominating committee. The process of replacing Brian Gaynor will commence in the near future.

-Ends-

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