NZX is delighted to announce the appointment to the NZX Board of Simon Power and Therese Walsh. Simon’s appointment is effective from December 1 2012 and Therese from February 1 2013.
As previously signalled, Chris Moller will resign from the Board to allow him to focus on his other commitments, including his chairmanship roles at Sky City Entertainment Group Limited and Meridian Energy Limited. Chris’ resignation will take effect on November 2 2012.
Director James Miller is appointed to the newly created position of deputy chairman.
Simon Power is well known to the financial community, having served as Minister of Commerce under the previous National led government, where he led and took responsibility for the delivery of much financial sector reform, including the establishment of the Financial Markets Authority. Simon is managing director, Private Wealth & Insurance at Westpac New Zealand Limited and is based in Auckland.
NZX Chairman Andrew Harmos said “The Board and Management of NZX is very pleased that Simon has accepted our invitation to join us as an independent director. I am confident he will make a strong contribution to NZX across a number of areas and I would particularly like to acknowledge Westpac’s vision and investment in Simon and its commitment to the New Zealand capital markets which this appointment demonstrates.”
Therese Walsh has broad management and governance experience developed in both the private and public sectors, following nine years with the audit and assurance divisions of KPMG in Wellington. More recently, Therese has undertaken significant operational roles as Chief Operating Officer for Rugby NZ 2011 Limited and Head of NZ for Cricket World Cup 2015. Therese is also a director of TVNZ and NZ Cricket.
Harmos said “Therese has a strong financial background. In addition, her management and operating experience, in large scale projects and involving interface with multiple stakeholder groups, will be particularly useful in the context of governance of NZX’s operating businesses. Coming from a non financial-markets background, Therese’s skill set will enhance the experience and diversity of thought around our board and we are very enthusiastic about her appointment.”
The Board would also like to acknowledge the significant contribution which Chris Moller has made during his nearly five years on the Board, and as a member of both the company’s Audit & Financial Risk Committee and the Human Resources and Remuneration Committee. Harmos said “Chris’ extensive governance experience, his experience as a former CEO, his common sense and straight talking has been a real asset. I have drawn on these skills, as chairman, on a number of occasions throughout Chris’ tenure. He has been a great director whom we will miss – and whom we wish well with his other board appointments, and his two large chairmanships in particular.”