Vertex directors appoint new independent chairman

This appointment, which is an interim arrangement, will permit the board to operate in the best interests of all shareholders.

The appointment leaves it open for the proceedings commenced by the company against some of the directors to continue if a negotiated resolution cannot be achieved.

Paddy Boyle, Sandy Maier, Mark Stewart, Warwick Webb and Warren Bell (the retiring chairman) all welcome Frankham's appointment.

Frankham is a chairman of listed company NZ Experience Limited and a director of Auckland International Airport Limited. He is a member of the Takeovers Panel and a former member of the Securities Commission.

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