Thursday 11th April 2013
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Guinness Peat Group chairman Rob Campbell, who was brought into the investment firm to oversee its wind-down, has joined the board of rental campervan operator Tourism Holdings.
The appointment takes the number of independent directors on the Tourism Holdings board to five of the six-strong board, and the company expects to make another addition in coming months, said independent director Graeme Wong, who heads the board sub-committee on board appointments.
"We are very pleased to have a director of Rob's experience and capability joining the board of THL (Tourism Holdings)," chairman Keith Smith said. "In multiple roles over an extended period of time Rob has clearly demonstrated an ability to assist companies achieve their potential."
Campbell is chair of GPG and retirement village group Summerset Holdings, and a director of commercial property investor Precinct Properties and fruit exporter Turners & Growers. He officially joins the Tourism Holdings board on May 6.
The Auckland-based company cut annual earnings guidance in February after posting a small first-half loss, citing tough trading conditions across the Tasman.
Tourism Holdings merged with two rivals last year as the wider sector struggles in a moribund global economy and the strong kiwi dollar erodes the attraction of New Zealand as a destination for long-haul travellers.
The shares fell 1.5 percent to 64 cents yesterday, and have declined 5.8 percent this year. The stock is rated an average 'buy' based on two recommendations compiled by Reuters.
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