Brierley seat goes at Air NZ's table

Brierley Investment's (NZSE: BRY) representative, Bill Wilson, will stand down from the board effective Friday. The move follows the resignation earlier this month of Dr C K Cheong from Singapore Airlines.

Mr Wilson, who is chairman of BIL NZ Assets, has been on the airline's board since 1999. However BIL's interest in the company has been watered down from 30% to 5.5% in the wake of last year's state-funded recapitalisation.

Air NZ chairman, John Palmer, says Mr Wilson's resignation is timely following the substantially changed status of BIL as a shareholder."

Earlier today Mr Palmer, who also chairs rural services company Wrightson (NZSE: WRI), had to comment on a resignation on that company's board after former Fonterra (NZSE: FCGHA) director Mike Smith announced he was standing down.

Mr Smith was appointed to the Wrightson board last year after Fonterra subsidiary RD1.COM took a 19.9% holding.

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