Media Insider: NZME board nominations – the six names vying to become directors of NZ Herald and Newstalk ZB owner
Media giant NZME has today revealed the six names vying to become new members of its board, in a battle that shapes as a pivotal moment for the future shape and direction of the NZ Herald and Newstalk ZB owner.
The company has also indicated it will advise at a later stage whether all of the nominees are, in the view of NZME’s directors, eligible under NZX rules to be independent board members of the publicly listed firm.
Auckland-based Canadian billionaire Jim Grenon – who has opened up about some of his plans for the NZ Herald if successful – leads a group of four potential new directors seeking to overthrow the current board at the company’s annual shareholders meeting on April 29.
Alongside him are his three fellow nominees: lawyer, NZ on Air board member and prominent blogger Philip Crump; the managing director of private equity firm Caniwi Capital Des Gittings; and former Trade Me director, Warehouse chief commercial officer and Torpedo7 chief executive Simon West.
Crump was the launch editor of NZME news and opinion platform ZB Plus in 2023.
Another substantial shareholder, Osmium Partners – which owns 6.57% of the company – has filed nominations for the appointment of two new directors separate from Grenon’s proposed nominees.
Its two nominations are Osmium president Adam Hoydysh and managing partner and chief investment officer John Lewis.
An NZME statement to the NZX on Wednesday morning said the company was “committed to ensuring that all shareholders receive complete and accurate information regarding the director nominations and shareholder proposal”.
“As previously announced, NZME will provide further details on the nominations in the notice of meeting for the annual shareholders’ meeting, to be sent in due course,” said the statement, authorised by NZME chair Barbara Chapman.
“This further information will include biographies of the nominees and the directors’ assessment as to whether the nominees would, if appointed, qualify as independent directors for the purposes of the NZX listing rules.
“All shareholders will be able to review all information prior to the annual shareholders meeting.”
NZME – which also owns BusinessDesk, OneRoof, and a suite of entertainment radio stations and regional newspapers – is bracing for a future-defining seven weeks ahead.
Alongside Chapman on the current board are directors Carol Campbell, David Gibson, Guy Horrocks and Sussan Turner.
Grenon’s plans
Grenon has outlined some of his plans and thoughts around the Herald’s journalism and editorial endeavours.
“The new board intends to improve on the journalism, with an emphasis on factual accuracy, less selling of the writer’s opinion and appealing to a wider political spectrum,” he said in a statement that he sent to the NZ Herald.
The other board nominees have all been approached for comment. Three have declined to comment; two others are yet to respond.
Editor-at-Large Shayne Currie is one of New Zealand’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME including Managing Editor, NZ Herald Editor and Herald on Sunday Editor and has a small shareholding in NZME.