The Auckland Energy Consumer Trust today welcomed the appointment of Hugh Fletcher, Tony Carter and Peter Bird to the Vector Board.

“The new directors – including Alison Paterson, who was appointed in March and is chair of the Board’s audit committee – are well-qualified to take Vector forward,” said Trust Chair Warren Kyd.

“Tony Carter, as Managing Director of Foodstuffs (NZ) Ltd, one of New Zealand’s largest companies, brings to the table his experience in the highly competitive supermarket sector while Hugh Fletcher brings a deep economic and commercial knowledge and a passionate commitment to New Zealand.

“UK based Peter Bird is a Managing Director of investment bank Rothschilds and has extensive expertise in advising in the energy sector, including acting as a consultant for the New Zealand Government in the privatisation of Contact Energy during the 1990s,” Mr Kyd said.

They will join Vector Chair Michael Stiassny, an experienced director and Senior Partner in Ferrier Hodgson & Co; Bob Thomson, an engineer who led Transpower from 1993 until his retirement in 2003; and the two Trustee directors – Karen Sherry, a Principal of the firm Bell-Booth Sherry and deputy Chair of Energy Trusts of New Zealand, and Shale Chambers, Managing Partner in ChambersCraigJarvis and Deputy Chair of MetService.

“The appointments follow a thorough search, including internationally to ensure we got the right mix of people with the appropriate skills.

“Vector’s third quarter results, released last week, were again above market expectations and continue a record of strong business performance since the company was listed on the stock exchange in 2005. The Trust expects the new Board to provide the leadership to ensure that Vector continues to perform strongly for the beneficiaries of the Trust and for all Vector shareholders and customers,” Mr Kyd said.

Contact: Warren Kyd 0274-462-489