Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Say No To Director Pyne Says Peters

Media Release


08 October 2003


Say No To Director Pyne Says Peters

New Zealand First is urging Telecom shareholders not to accept Lindsay Pyne as a director of the company when his nomination is discussed on Thursday.

“What is happening to big business in New Zealand when Mr Pyne, chief executive of the Bank of New Zealand when the Government had to bail it out of serious losses, gets nominated as a possible director for Telecom?” said New Zealand First leader Rt Hon Winston Peters.

“How Mr Pyne is deserving and qualified for a position on one of New Zealand’s biggest company boards, given his time with the BNZ, is a mystery to me,”

When with the BNZ, Mr Pyne signed off the bank’s figures for the year 1990, which, later were seen as not presenting a true and fair picture of the results by the Securities Commission. Mr Pyne did this notwithstanding he had also been part of the audit sub-committee that advised that the accounting policy used by the bank was inappropriate.

The BNZ’s Captive Insurance scheme, at that time used to disguise the true state of the banks accounts and forecasts, was nothing but a “creative accounting scam”.

“I question the decision to put forward Mr Pyne’s name as a possible choice of director and would like to know what Mr Pyne has been doing for the last ten years that now equips him with the skills needed for such a position,” said Mr Peters.

“However Telecom shareholders have it within their power to stop this totally unsuitable candidate from becoming a director and they are urged to do so,” said Mr Peters.


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Decision Day: Peters Chooses Labour

Winston Peters says he will form a Government in coalition with Labour and the Greens giving confidence and supply.

Peters said he had been offered the position of Deputy Prime Minister and a number of other ministerial posts would go to his colleagues

He said economic and monetary policy changes were needed to face a coming economic downturn.>>>More

Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election