New faces for Air NZ boardroom

By Phil Boeyen, ShareChat Business News Editor

Wednesday 27th February 2002

A former Dairy Board boss, a one-time internet bank manager and a Porirua City Councillor are among the lineup of new directors at Air New Zealand (NZSE: AIR).

The airline's board has announced four new appointment to the top table as well as some retirements, including last year's man of the moment Dr Jim Farmer.

"Dr Farmer publicly indicated late last year his wish to retire from the board at an appropriate time. The new appointments provide that opportunity," says chairman John Palmer.

"I would like to record the board's and the company's appreciation of Dr Farmer's extended service, particularly during the past year when his leadership of the company through undoubtedly one of the most difficult periods in its history contributed substantially to its continued existence."

Dr Farmer, who has served on the board for nearly 13 years, was thrust into the spotlight last year as acting head after former chairman, Selwyn Cushing, stood aside.

Another director, Liz Coutts, has also resigned after indicating that there would be a duplication of strong financial skills at the board level had she remained a director.

The four new directors of the majority state-owned airline are Porirua City Councillor and former union leader Ken Douglas, former Dairy Board head Warren Larsen, Auckland businesswoman Jane Freeman and former Fletcher Challenge executive John McDonald.

Mr Douglas was previously the president of the New Zealand Council of Trade Unions and national secretary of the New Zealand Federation of Labour. He is a director of New Zealand Post, a member of the Trade Development Board and a trustee and member of the Asia 2000 Foundation.

Aside from his previous role as Dairy Board chief, Warren Larsen is currently a director of several listed companies including Fletcher Forests, Vending Technologies, Richmond and Owens Group.

Ms Freeman is a director of Publicis NZ and previously managed the ASB online bank, BankDirect. She also has experience in the telecommunications and e-commerce industries.

John McDonald has held directorships at various Fletcher Challenge subsidiaries and joint venture companies and also worked as group commercial director and group treasurer at Fletcher Challenge.

John Palmer says the new directors bring a range of business experience to the board which will combine with the remaining directors to form a strong cohesive team at board level.

There are no plans at present to fill a further board seat left vacant by Ralph Norris's appointment to the airline's top job.

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