AGM: Membership elects new Director, CEO retiring

SOUTHERN CROSS AGM - Membership elects new Director, CEO retiring

Members elected a new director to the Southern Cross Medical Care Society Board at its 52nd Annual General Meeting yesterday.

As of today, Catherine Drayton replaces Phillip Meyer, who is retiring from the Board after eleven and a half years.

Mr Graeme Hawkins - Southern Cross Medical Care Society Chairman, says, “Ms Drayton brings an exceptionally strong record of governance experience to our Board.

“She is a Director of Christchurch International Airport Ltd, Ngai Tahu Holdings Corporation and BECA Group limited, as well as chairing the audit & risk committee of CERA (Canterbury Earthquake Recovery Authority), being on the University of Canterbury Council and being a director of the NZ Hockey Federation. Previously she has served on the boards of Meridian Energy Limited and Callaghan Innovation Research Limited (formerly Industrial Research Limited).”

Regarding Phillip Meyer, Mr Hawkins said, “He has helped Southern Cross transition from the merger with Aetna and into a modern digital age. He has overseen the stable investment growth we are so proud of and he has done all of this with great passion for the business and members. Phillip Meyer has been a wonderful asset to our Board.”

The voting of Directors also saw existing Director Elizabeth Hickey re-elected to the Southern Cross Board and Director Keith Taylor appointed as a Trustee.

Group CEO, Dr Ian McPherson announced to the meeting that after 12 years at the helm, he is retiring from the Group Chief Executive role at the end of June 2014. He will then continue at Southern Cross part-time until June 2015, working with the Chairman and Board on Southern Cross, health sector and strategic matters, and to enable a well-planned and smooth transition.

The Board congratulated Dr McPherson, saying he can be proud of the achievements of Southern Cross over the last decade and more. Mr Hawkins said that the Board would determine a process in the New Year to find a replacement. This would be likely to include considering internal, local and international candidates.

It was also highlighted at the meeting that Dr McPherson was last week appointed as President of the International Federation of Health Plans.

The iFHP was founded in 1968 by health plan industry leaders. It is now the leading global network in the industry, with more than one hundred member companies from twenty-five countries.

Mr Hawkins said, “Ian’s appointment is a testament to the experience, knowledge and respect that both he and Southern Cross bring to the health insurance sector internationally.

The meeting concluded, with the Board signalling that they intend to consult with members in 2014 about Directors remuneration, which hasn’t been increased since 1997. Members present supported this decision.

Ends.

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