Banker takes to the air

By Phil Boeyen, ShareChat Business News Editor

Wednesday 13th February 2002

Former ASB Bank boss Ralph Norris has been given the task of keeping Air New Zealand (NZSE: AIR) flying after winning the airline's top job.

His appointment, which takes effect from Monday, gives the airline a chief executive again following the departure last year of Gary Toomey. Mr Norris is a current director of the airline and was formerly head of ASB Bank Limited and in charge of international financial services with the Commonwealth Bank of Australia.

Air NZ chairman John Palmer describes Mr Norris as one of the country's outstanding chief executives and says the board is delighted to have secured him "at this critical time in the company's development."

"Beyond his more obvious financial capabilities, Ralph has a track record of success in change management, highly competitive marketing, and innovative application of new technologies - all of which are highly relevant to the challenges involved in driving forward with the recovery of Air New Zealand."

Mr Norris says he knows the scope of problems that the airline needs to overcome.

"I look forward to leading Air New Zealand management and staff to produce the solutions are needed to rebuild the core strengths of the company and develop new competitive advantages."

Mr Norris is 52, and married with three children. He was born in Auckland and began his working career as a commercial cadet with Mobil Oil New Zealand in 1967 before joining the Auckland Savings Bank in 1969 and rising through the ranks. He was put in charge as ASB in 1991 and retired from the position in September last year.

Air NZ says Mr Norris played a lead role in the nation-wide expansion of the ASB Bank and the introduction of New Zealand to interactive telephone banking services, internet banking, and its first "virtual bank" BankDirect.

The airline itself is keen to pursue e-commerce strategies and has already made online booking a focus for discount subsidiary Freedom Air. It has also signalled that it wants to grow the online market for its core Air NZ brand.

Mr Norris was judged New Zealand Executive of the Year in 1997 and is a former chairman of the New Zealand Bankers Association and the Business Roundtable. He is a director of Fletcher Building (NZSE: FBU) and Team New Zealand Defence 2003.

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