Momentum appoints first Chief Executive

November 21 2013

Momentum appoints first CE

Waikato’s Momentum Foundation has taken a major step forward with the appointment of its inaugural chief executive.

New Zealand’s newest community foundation was established in June this year and aims to build up a $300 million fund to be spent just in the Waikato region. Funds will be used to support major regional projects with inter-generational benefit.

Chair of Trustees Ken Williamson announced today that Momentum had appointed Soda Inc chief executive Cheryl Reynolds to lead the organisation and drive its fund-raising efforts.

Ms Reynolds currently leads the seven-strong team at Soda, an entrepreneurship hub founded by Wintec and Hamilton City Council. Soda is based in Hamilton and supports around 60 start-ups annually by linking them with investors, funders and corporate partners.

Ms Reynolds was the founding chief executive at Soda and has led the organisation’s establishment and startup for the past 10 years. Prior to that she was the creative industries director at Wintec and managing director at Antenna International in London.

Mr Williamson said the Momentum Board was thrilled to have secured “an outstanding candidate at a critical time”. The Foundation’s immediate focus was on building a capital fund, he said. It aimed to build up $300 million over 30 years with investment returns from the capital used for large community grants.

“Cheryl will be an outstanding contributor to that. She is visionary and entrepreneurial and has been a proven leader in challenging roles. She knows our region very well and she’s committed to the concept of having people reinvest back in their communities. Sharing that vision is important to the Trustees.”

Ms Reynolds said she was thrilled at the appointment but said leaving Soda was “bitter sweet”.

“Soda has built a strong foundation and is in great shape for the future. But joining Momentum is an opportunity to seed and support new projects that may bring about catalytic change for the benefit of the Waikato region.”

Ms Reynolds will start her new role as chief executive in January 2014.

ENDS

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