The Ware­house founder takes a year off

The Timaru Herald - - WORLD - RACHEL CLAYTON

The Ware­house Group’s founder, Sir Stephen Tin­dall, is tak­ing a year off to fo­cus on Team New Zealand’s de­fence of the next Amer­ica’s Cup.

Tin­dall wants to con­cen­trate on his chair­man­ship of Team New Zealand and ven­ture cap­i­tal work with his com­pany K1W1.

Tin­dall said he wanted to fo­cus on se­cur­ing the nec­es­sary in­fra­struc­ture in Auck­land to host the Amer­ica’s Cup, as well as op­por­tu­ni­ties for his in­vest­ment firm K1W1, and the on­go­ing work of The Tin­dall Foun­da­tion.

His leave of ab­sence took ef­fect yes­ter­day and would run un­til Oc­to­ber 2018.

K1W1 re­cently helped to in­vest $1 mil­lion in home ser­vices com- pany Goodnest, which is backed by Tin­dall and Trade Me founder Sam Mor­gan.

Tin­dall’s son Rob­bie Tin­dall, who has acted as his fa­ther’s al­ter­nate di­rec­tor on The Ware­house Group board, will stand in while Tin­dall is on leave.

Tin­dall said it was the first pe­riod of long leave he had taken from the busi­ness since he opened the doors of The Ware­house in Wairau Rd on Auck­land’s North Shore in 1982.

‘‘My con­fi­dence in [The Ware­house’s] lead­er­ship and our strat­egy for the next 12 months and beyond makes it pos­si­ble for me to take a leave of ab­sence,’’ he said.

The Ware­house Group chair­woman Joan Withers said the board wished Tin­dall well and was pleased Rob­bie Tin­dall had agreed to con­tinue to act as his al­ter­nate.

Sir Stephen Tin­dall

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