Vector AR’19 ― strong governance in a climate of change
strong governance in a climate of change
Meet our new Chair: Dame Alison Paterson
What have been the key changes to Vector’s Board this year? After a long period of stability, Vector has worked through a process of Board renewal and we are privileged to have three new business leaders join our Board this year. Tony Carter, Dame Paula Rebstock and Bruce Turner are outstanding appointments. They bring with them wide-ranging commercial and governance experience to complement the capability already in place around the Vector Board table. We look forward to their contribution as we continue towards our goal of creating a new energy future. What new skills and experience have been brought to the Board table? We followed a rigorous process to ensure we were introducing the right mix of skills and capabilities to complement those already in place. It is very important to get this combination right, given our role is to govern on behalf of shareholders.
Dame Alison Paterson started her career as an accountant before becoming a professional company director in 1976. She was the first female director of a publicly listed company and has since held senior governance roles with some of the country’s foremost organisations, including as Chair of Landcorp and Deputy Chair of the Reserve Bank. In 2018 Dame Alison was appointed Chair of Vector’s Board after serving as a director for eleven years. Her services to business were recognised in the 2014 New Year Honours in which she was made a Dame Companion of the New Zealand Order of Merit. Along with Vector, Dame Alison chairs the Boards of Kiwi Wealth, the Forestry Industry Safety Council, Te Aupouri Commercial Development and Te Aupouri Fisheries Management. She is also a member of the Health Quality and Safety Commission. In this interview, we ask Dame Alison about the key changes to Vector’s Board over the past year, and what’s next for the company.
While each new director has a wide variety of governance competencies, particular strengths are shown by Dame Paula Rebstock in regulatory policy and government relations, Bruce Turner in distribution network engineering, operations and market trading, and Tony Carter in customer experience, new technology disruption, government relations and corporate governance. As with any new team it takes time to develop a fresh dynamic, but overall everyone is working well together. What we all have in common is a passion for the energy sector and the critical role Vector will play in enabling a new energy future for Auckland and New Zealand – both now and into the future. We are developing a strong working relationship with Simon Mackenzie and his management team, many of whom are also new to the business this year. The Board is energised by the wave of fresh thinking combined with institutional knowledge. It’s a powerful balance and I am excited about where it’s leading us. How are you all developing as a team?
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