Barbara Chapman to chair board of media giant NZME

Friday, 19 June 2020

Former ASB chief executive Barbara Chapman has been made chair of media company NZME.

Chapman's appointment comes a week after chairman Peter Cullinane resigned saying he was aware he did not have the support of a group of Australian fund managers.

The NZX sharemarket-listed media company, which owns the New Zealand Herald, said Chapman would resign from her directorship at giant insurer IAG so she could dedicate more time NZME.

Chapman, who has been an independent director of NZME since April 2018, said: 'Media is an incredibly vibrant industry in New Zealand and NZME is at the very heart of that industry.

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'I’m honoured to be able to play a role helping ensure NZME’s businesses and the wider industry have a thriving and sustainable future supporting New Zealand communities.”

Chapman served as chief executive and managing director of ASB from 2011 until February 2018.

She is chair of Genesis Energy and is an independent director of Fletcher Building.

She was made a Companion of the New Zealand Order of Merit in the New Year Honours Roll for her services to business.

The NZME board thanked Cullinane, who took over as chair in late 2017 saying he had 'helped guide the business through periods of significant change.'

NZME announced Cullinane's departure less than 15 minutes before its annual meeting began on June 11 with Cullinane saying: 'My view was if I did not have shareholder support, it was not a good thing to be chairing a meeting.'

NZME was last month thwarted in its bid to attempt to buy rival Stuff for one dollar, after Stuff's Australian owner Nine instead sold Stuff to Stuff's chief executive Sinead Boucher.