Christine Fletcher: mealy-mouthed but supporting Ports privatisation

Ms Fletcher (on the radio this morning) has indicated the thinking that her group (and, I assume, others) use for POAL - privatise the operations but keep ownership of the land. Meanwhile, Mr Brown has gone to ground. He's not commenting, but we can read between the lines that he and his team are hoist on the petard of the COO model - the port's board is driving the confrontation with MUNZ, and Mr Brown seems by default to be supporting 'his' board. His room for manoeuvre is nil. To be even-handed - the 'plague on both houses' approach - will be seen to be critical of 'his' board, and will be nailed by Ms Fletcher, the media and Wellington. His only potentially positive option was to have been pro-active at the beginning, but I think that that opportunity is past.

As I have argued before, there is more than a sniff of orchestration about what's happening.

The board is:

Richard Clive Pearson BCA
Chairman
Mr Pearson was appointed a Director in December 2010 and Chairman in 2011. He has extensive experience in port operations and investment around the world and has recently returned to New Zealand following a long career with Hutchison Port Holdings Group, most recently as Managing Director, Hong Kong International terminals Ltd (1996 – 1998) and Managing Director – Europe Division, President ECT Rotterdam (1998 – 2007).

He is currently Chairman of Wellington Electricity Distribution Network Holdings Ltd.

Graeme Scott Hawkins BSc, BCom
Director and Audit Committee ChairmanMr Hawkins was appointed a Director in September 2009. He is a professional Director, with extensive experience in senior management roles in the private sector, including at Fletcher Challenge and as Chief Executive of Dominion Breweries in the late 1980s.

Mr Hawkins is currently Chairman of Watercare Services and Southern Cross Healthcare, a Director of Ballance Agri-Nutrients Limited and Cavalier Corporation. He has previously been a Director of a number of dairy industry organisations including Fonterra.

Andrew Bonner BA (Hons)
DirectorMr Bonner became a Director in December 2009. He is also a Director of Marlborough Wines. Mr Bonner was formerly an executive with Fosters Group Limited where he ran the import arm of the Fosters business in Australia, was Managing Director of Fosters Group New Zealand and also Managing Director and Chairman of Fosters Group Pacific Limited in Fiji . He is currently a founding partner in an export focused wine business.

Robert James Campbell (Rob) BA (Hons), M.Phil (Economics)
Director
Appointed a Director in December 2010, Mr Campbell is Director and Owner of Tutanekai Investments Limited. He is a Director of a number of New Zealand and international companies including the Accident Compensation Corporation, Aquasure Pty Limited (Australia), Guinness Peat Limited (UK), Serica Balanced Credit Fund (Hong Kong), Truescape Limited, CallPlus Limited and Murray and Co, as well as being a Trustee on the Auckland City Mission Foundation.

Mr Campbell has been a Director and Investment Manager at Tappenden Holdings Limited, has lectured in the Economics Departments at Victoria and Massey Universities and has been a Union Advisor, acting as an advocate in the Arbitration and Appeal Courts. He has previously been on the Boards of NZ Post, Bank of New Zealand, Government Printing Office, Mitsubishi Motors (NZ) Limited and Netway Limited.

Elizabeth Mary Coutts (Liz) BMS, CA
Director
Appointed a Director in December 2010, Ms Coutts is also a Director of EBOS Group Limited, Skellerup Holdings Limited, Ravensdown Fertiliser Cooperative Limited and Chair of Urwin and Co Limited.

She has previously been Chief Executive of Caxton Group, Chairman of Meritec Group Limited, Industrial Research Limited and Life Pharmacy Limited, Deputy Chairman of Public Trust, and a Commissioner of both the Commerce Commission and Earthquake Commission. She has been a Director of the Health Funding Authority, PHARMAC, Air New Zealand, Sport and Recreation New Zealand and Trust Bank New Zealand, and a member of both the Financial Reporting Standards Board of the Institute of Chartered Accountants and the Monetary Policy Committee of the Reserve Bank of New Zealand.

Wayne Walden ONZM
Director
Wayne is an experienced Company Director, and was previously Managing Director and shareholder of Farmers/Deka Ltd. He has had more than 30 years senior management experience in the liquor, wholesale and retail trades in New Zealand.

Wayne’s past directorships include, Director of Farmlands Co-Operative Society, Director of the Westpac Bank NZ Advisory Board, Deputy Chairman of Meat New Zealand, Director of Mighty River Power Limited, Chairman of Tranz Rail and Chair of Maori Television. Wayne was