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Allied Nationwide Finance – Independent Directors

Allied Nationwide Finance – Independent Directors

Allied Nationwide Finance Limited, part of the NZX listed Allied Farmers group, is pleased to announce the appointment of John Spencer and Susie Staley as independent directors to its board.

John Loughlin, Chairman of Allied Nationwide Finance said, “We are delighted to have secured the services of John Spencer and Susie Staley as directors of Allied Nationwide Finance. Both are experienced directors who will add significant value to the governance process.”.

“The appointment is also part of our adoption of ‘best practice’ corporate governance and will ensure appropriate independent representation on the board of Allied Nationwide,” said John Loughlin.

The appointment of independent directors will also position Allied Nationwide to fully comply with the new regulations being imposed on finance companies from 2009, and will also assist in meeting the corporate governance expectations of Standard & Poors as part of its credit rating review for Allied Nationwide.

As part of the changes, three Allied Farmers directors on the board of Allied Nationwide will retire, being Peter Cook, Ross Dunlop and Andrew McDouall, all of who will remain on the parent company board.

Biographies on John Spencer and Susie Staley are set out below.

ENDS

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