Appointments to Board of Guardians of New Zealand Superannuation

Finance Minister Michael Cullen today announced that David Newman and Glen Saunders have been appointed to the Board of Guardians of New Zealand Superannuation.

“The Board of Guardians is responsible for setting the investment policies of the New Zealand Superannuation Fund and for overseeing its operations. I am confident that Mr Newman and Mr Saunders have the skills to contribute effectively to the Board.” Dr Cullen said.

Mr Newman is an experienced company director. He currently holds positions on the Boards of Infratil Limited, Wellington International Airport, FinMedia Ltd and Austral Pacific Energy Ltd. Until recently, he was the Chief Executive of the Institute of Directors.

Mr Saunders spent several years as Managing Director of European bank Triodos Bank and has experience in global investment markets and socially responsible investment.

The other Board members are David May (Chair), Sir Douglas Graham, Dr Michaela Anderson, Ira Bing, and Bridget Liddell.

The Government consulted with other political parties in August on the proposed appointments and received no objections.

The terms of Mr Newman and Mr Saunders run until 15 September 2009.

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