Fourth independent director appointed to Timaru council’s holdings company
Monday, 22 April 2024
A fourth independent director has been appointed to the board of the Timaru District Council’s holdings company.
Timaru District mayor Nigel Bowen confirmed Christchurch-based Darren Evans had been appointed as a director of Timaru District Holdings Limited after, district councillor Peter Burt’s directorship came up for rotation.
“One of the recommendations coming out of the MartinJenkins report was that we should shift to a skills based board and reduce the number of councillors directly appointed,” Bowen said on Monday.
TDHL board chairperson Mark Rogers said Evans, who was appointed in December, brought “extensive and current property experience” to the board.
Evans is the chief executive of Calder Stewart and is a chartered accountant with experience as a chief financial officer and auditor. He also has a law degree.
Evans joins the TDHL board alongside independent directors Rogers, deputy chairperson Rebecca Keoghan and Aaron Bethune, and sitting councillor Sally Parker.
The MartinJenkins Report, which was released in 2019, was commissioned after TDHL’s controversial proposal to sell its 47.5% share of Alpine Energy. The proposal was made under the leadership of then-mayor Damon Odey, who also chaired TDHL.
The report looked into the make-up of the TDHL board, the appointment process, competency framework and performance monitoring framework.
The report recommended “there be an independent chair, and then an equal number of independent and councillor directors, with a view to transitioning to more independent directors than councillor directors over time”.
It also recommended the mayor should step down from TDHL “to strengthen formal monitoring and accountability mechanisms”.
In June 2020, councillors voted to restructure the board of TDHL, changing the make-up, from three councillors and two independent directors, to three independent directors and two councillors. They also voted that one of the independent directors be made chairperson.
Bowen said he was comfortable the council now had just one sitting councillor on the board.
“While there is less direct council involvement in the board, we have worked to strengthen our oversight of the TDHL board through the letter of expectations and statement of intent processes, so residents can be comfortable that the company will always be working to get the best outcomes for the Timaru District community.
“I’m comfortable that councillor Parker will provide good representation for the council on the TDHL Board, while we also benefit from the skills and knowledge of the independent directors and chair.”
In explaining the recruitment process in October, then TDC chief executive Bede Carran said under the council’s external governance appointments policy a rotation happens every year, and in 2023 it was councillor Burt’s directorship up for rotation.
Carran explained a director was eligible to reapply for the position when it was up for rotation.
In its advertising for the role, the council said it was looking for a candidate with at least five years’ experience as a director with an organisation of similar size, strong financial literacy, relevant sector experience, and risk and compliance expertise.
It also said the successful applicant would need to demonstrate a high level of emotional intelligence and reputation for trustworthiness, openness and integrity and the ability to challenge assumptions.
According to TDHL’s annual report, for the year ending June 2023, the chairperson was paid $60,000, the deputy chair $43,750, and the other directors $35,000.
TDHL is a council-controlled organisation, which is 100% owned by the council. Its purpose is to invest, hold and manage commercial assets, adding value and strategic support to the Timaru District.