Kiwi Income Property Trust appoints new chairman

Wareing takes over from current chairman Jim Syme who is standing down from the role but will remain as a director.

Syme's move is in accord with the Securities Commission's Corporate Governance in New Zealand, Principles and Guidelines which recommends having an independent chairman for a publicly-owned entity.

Chief executive of the manager of the trust, Angus McNaughton, said the Trust had been very fortunate to have a chairman of Syme's calibre.

"Jim has made an outstanding contribution to the Trust's development over the past two and a half years", said McNaughton.

New chairman Sean Wareing, who was appointed to the board in October, is also chair of Alesco Corporation Limited, St Hilliers Holdings Pty Limited and Commonwealth Managed Investments Limited. His former directorships include Air New Zealand, GRW Property Limited, Lend Lease Corporation, Homebush Bay Development Corporation, Clyde Industries Limited and Australian Tourism Group Limited.

Syme said Wareing had brought a wealth of property and commercial expertise to the Board and this, coupled with his long experience and his independent status, made him an ideal successor.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Kiwi Income Property Trust
Kiwi Income sells Queen St building to Australian firm
Kiwi Income Property may need to sell assets or raise equity to exit management contract
Kiwi Income manager stays mum on internalisation proposal, sees retail, Auckland office improving
Kiwi Income manager mulls Commonwealth Bank proposal to internalise contract
Kiwi Income Property sees smaller payout in 2014 as annual earnings fall 15 percent
Kiwi Income Property first-half pretax earnings fall 16 percent
Wellington's commercial property market to remain subdued: KIP
Kiwi Income Property Trust
Write-downs hurt Kiwi Income Property Trust but 1H distributable profit rose 9.1%