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

 

Trustpower Chairman Calls It A Day

Avon Carpenter, Chairman of TrustPower Ltd, has given notice of his intention to retire as a Director and Chairman of the Company on 31 December 2000.

Mr Carpenter has been Chairman of the Company since it was corporatised under the Electricity Industry Reform Act 1993 and prior to that was a Board Member and Chairman of its predecessor the Tauranga Electric Power Board.

Mr Carpenter said, “It is naturally with some regret that I am severing my long association with the Company. It has been extremely rewarding to work with such a highly skilled and professional management team who have really rejoiced in the challenges and built a company that for all round performance is currently clearly the industry leader.”

“The electricity industry has, throughout the ten years of my involvement, been subject to constant change and the target of considerable political focus. These factors have inevitably given rise to many difficulties but at the same time have created opportunities. That these opportunities have been grasped and turned to advantage is evidenced by the Company’s impressive growth – since listing as a public company in April 1994 annual revenues have increased from $53.2 million to$428 million while assets have moved from $83.2 million to $813.4 million in the same period. Profitability has shown an equally impressive growth rising from $5.7 million after tax in 1994 to $26.8 million in 2000.”

Mr Harold Titter who will take over the Chairmanship of the Company on Mr Carpenter’s retirement noted the outstanding leadership that Mr Carpenter had given to the Company since its inception in 1994. His linkage with senior management and the Board had played an important part in the Company's growth and development.

Mr Titter said “The momentum of the Company is driven to a considerable extent by its excellent management and staff as referred to by Mr Carpenter. This team, together with the Board, look forward with confidence and enthusiasm to the further growth and development of the Company in the years ahead.”

HAROLD TITTER
DIRECTOR

For further information phone 07 574 4866.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: