Vector names directors to replace ousted three

WELLINGTON: Vector has at last found replacements for three of its directors ousted last year amid turmoil within its 75.1% shareholder, Entrust.

Alison Paterson, who replaced longserving chairman Michael Stiassney last November after Entrust withdrew its support for him, announced Tony Carter, Paula Rebstock and Bruce Turner were joining the board with the blessing of Entrust.

They replace James Carmichael, who lost his position as an Entrust trustee in an election in November, and David Bartholomew and Sibylle Krieger who both left the board in November after Entrust said it would not support their reelection.

Paterson said in a statement Vector was ‘‘privileged to have three business leaders of this calibre’’. Rebstock and Turner are joining the board immediately; Carter’s appointment takes effect on May 1.

Rebstock chairs ACC, Kiwi Group Holdings, Ngati Whatua Whai Maia and the NZ Defence Force Board and is a director of Auckland Transport. She formerly chaired the Commerce Commission.

Turner is director of central portfolio management at dairy giant Fonterra and has held leadership roles in the energy industry both in New Zealand and overseas, including at Vector. He is a member of the electricity industry’s security and reliability council.

Carter, a former managing director of Foodstuffs, chairs Fisher & Paykel Healthcare and Air New Zealand and sits on the boards of Fletcher Building and ANZ New Zealand.