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Ministers must ask Shipley to stand aside from Genesis board


29 May 2015

Ministers must ask Shipley to stand aside from Genesis board


Bill English and Todd McClay must ask Jenny Shipley to stand aside as chair of the board of Genesis Energy while legal action is being taken against her for her role in the collapse of Mainzeal, says Labour’s SOEs spokesperson Clayton Cosgrove.

“The accusations against Jenny Shipley are deeply concerning. It is not tenable for her to remain chairperson or on the board of Genesis Energy while Mainzeal liquidators file a civil lawsuit against her for her alleged role in the collapse.

“In order to protect the credibility and integrity of the majority taxpayer-owned company she should stand aside from the role until all legal issues are resolved. This is about doing the right thing to protect the interests of taxpayers and shareholders.

“If Ministers do not ask her to stand down they must explain why they continue to have confidence in her leadership as they said at the time of the Mainzeal collapse.

“Despite the Government’s asset sales, Genesis is still 51 per cent owned by the Government and the SOEs and Finance Ministers are shareholding ministers. Even though Genesis Energy is publicly-listed they have a duty to ask her to stand aside during this legal action,” says Clayton Cosgrove.


ends

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