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

 

NZME's Peter Cullinane confirmed as chair

NZME's Peter Cullinane confirmed as chair, ex-investment banker David Gibson joins board

By Paul McBeth

Dec. 8 (BusinessDesk) - NZME director Peter Cullinane, a former ad man who founded Lewis Road Creamery, has been confirmed chair of the media group, while ex-investment banker David Gibson has been appointed to the board.

The appointments follow former chair John Anderson's sudden retirement this week, although NZME said it was already in the process of a boardroom renewal. That process led to the appointment of Gibson, a former co-head of investment banking for Deutsche Craigs, who has advised on major transactions in the media sector and will continue next year. Cullinane, a former Saatchi & Saatchi global executive, has been on the board since it was spun out as a separate entity from APN News & Media in June last year.

"I am honoured to accept the appointment as chair of NZME. We have great people, brands and customers and are in a strong position to take advantage of opportunities to grow shareholder value in the New Zealand media sector," Cullinane said in a statement. "David’s extensive experience in capital markets and managing growing businesses will be of enormous value to NZME in achieving its objectives while maintaining strong governance."

NZME was recently added to First NZ Capital's analyst coverage, which took a cautiously positive outlook on the media group's potential earnings, rating the stock a 'neutral' and putting a 12-month target share price of 88 cents. The shares closed at 89 cents yesterday.

The New Zealand media unit was spun out of APN with a view to merging with rival Fairfax New Zealand, although that's been rejected by the Commerce Commission as being anti-competitive and is currently under appeal.

Gibson has been declared an independent director and will put himself forward for election at the next annual meeting.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: