Daily Archives: March 11, 2012

Directorships and council-owned companies

### stuff.co.nz Last updated 05:00 10/03/2012
Business
So you want to be a director?
By Tom Pullar-Strecker
Harsh light of day: Finance company directors in court have provided a “wake-up call” to all board members, with some wondering if the work is worth it.
At the Institute of Directors’ offices in Featherston Street, 20 high-fliers have gathered for a day-long course that is designed to help prepare them to take a seat as a director at a boardroom table. Contrary to stereotypes, there is little grey hair, nine are female and none are in handcuffs. Their reasons for attending the course are similarly quite varied.

The institute has 5500 members and, among them, the median fee for a directorship is about $35,000, chief executive Ralph Chivers says. For positions on boards of companies with a turnover of more than $500 million a year, that rises to about $70,000. However, there are probably no more than 500-600 people sitting on boards of the top-100 listed and private companies and they are by and large people “at the top of their game”.

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### ODT Online Sun, 11 Mar 2012
Magazine
Keeping it all above board
By Mark Price
With Dunedin City Council-owned companies undergoing a restructuring, and question marks over who will fill more than a dozen directors’ seats, what is required of an effective company director.
J. Denham Shale was appointed by the council after the “Larsen review” delivered the council a list of recommendations to improve the running of its companies – city councillors being barred from the company boardrooms the most radical of them.

Shale’s arrival, along with that of deputy Bill Bayliss, of Queenstown, coincided with the resignation of some members of the old holding company board and the sacking of the others, including chairman and city councillor Paul Hudson. Shale and Bayliss are just the interim board – given 12 months to restructure the holding company and its subsidiaries. Recruiting new directors is part of that job.

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Posted by Elizabeth Kerr

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