Two appointments to the Board of TVNZ have been announced today by the Minister of Broadcasting, Marian Hobbs.

They are Stephen Walker, a principal in his own investment company, and media commentator and author, Paul Smith. Both men are based in Auckland.

Mr Walker succeeds Whai Dewes, whose term expired at the end of March and Mr Smith replaces David Irving, who resigned last year.

Marian Hobbs said Mr Walker was appointed for his experience in corporate finance and treasury management. He will chair the board's audit committee. Mr Walker is also a director of Genesis Power Ltd, and a member of its audit committee.

"He specialises in providing investment and strategic advice within the finance sector," Ms Hobbs said.

Mr Smith was being appointed for his media experience and broad understanding of the industry, she added.

"Mr Smith has advised that he will terminate his contract with the National Business Review as a media commentator," she said. "He has also intimated that he will review his role with other periodicals he contributes to and do likewise if there proves to be a conflict.

"Mr Smith's appointment will both complement the other skills on the board and in management, as well as challenge both groups."

The terms are for three years to March 31 2003. Two further appointments are pending.

ENDS

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