Hawkes Bay Airport becomes corporate entity

From tomorrow Hawke's Bay Airport will operate as an airport company with the Crown, Napier City Council and Hastings District Council becoming shareholders.

Transport Minister Steven Joyce said corporatisation will allow the airport to operate more efficiently, and provide more flexibility to meet future requirements.

"There are numerous benefits associated with this corporatisation, including clearer governance, limited liability and the ability to borrow for investment.

"While this will have no effect on the day to day running of the airport for now, the new company structure will allow greater commercial freedom particularly around future investment decisions and the ability to raise funds."

The airport will continue to be owned 50 percent by the Crown, 26 percent by Napier City Council and 24 percent by Hastings District Council.

It is expected to be fully commercial and there is no obligation for shareholders to provide additional funding.

The new airport company board has two directors appointed by the Crown and two appointed by the Councils jointly.

 

Details of the two Crown-appointed directors are set out below.

Jim Scotland from Havelock North is a company director who has a number of business interests both within and outside of the Hawke's Bay, mainly focusing on infrastructure and agribusiness. Mr Scotland's current principal governance roles are as Chair of Port of Napier Ltd, Director of Seeka Kiwifruit Industries Ltd and Director of the Crown research institute, New Zealand Institute of Plant & Food Research Ltd.

He has held a number of other directorships in Crown companies, including being Deputy Chair of Hort Research prior to the merger that created Plant and Food Research, and as a former director of state-owned enterprises AgriQuality Ltd, and Landcorp Farming Ltd.

Stuart Webster has been a partner in the Napier law firm, Sainsbury Logan and Williams, since 1990. He is a shareholder and director in the olive oil producer The Village Press Ltd, Deputy Chair of the Board of Trustees of Iona College, and a board member of Justitia Mutual. Mr Webster had held directorships in a number of companies in the Hawke's Bay region and has been active in governance in the Law Society, both locally and nationally.