Inside the Reserve Bank’s Adrian Orr crisis communications plan

Thursday, 12 June 2025

Reserve Bank Governor Adrian Orr resigned in March - but it wasn’t until June that the RBNZ released the reason why.

The release of pages and pages of communication plans have allowed a peek inside the Reserve Bank’s (RBNZ) plan of attack immediately following the shock resignation of former Governor Adrian Orr.

In March, the public weren’t told why the man who led New Zealand’s central bank abruptly left. Board chair Neil Quigley was rolled out for a press conference that day - he said the resignation was a “personal” decision.

Finally, after months of delay, RBNZ released documents that were requested using the Official Information Act, revealing why Orr had left - Orr did not believe the central bank could adequately fulfil its functions in light of budget cuts agreed between the Reserve Bank’s board and Finance Minister Nicola Willis.

Reserve Bank governor Adrian Orr has resigned. Finance Minister Nicola Willis responds, while Prime Minister Christopher Luxon discusses the process for appointing a successor.

Of note in the tranche of documents is the bank’s “Project Baroda - Comms and Engagement Plan” which lays out how the bank would communicate Orr’s surprise exit to the media and wider public.

But the communication was highly managed internally, too.

One document showed “notes and backpocket Q&As to support us all as leaders in conversations with our teams,” director of communications Naomi Mitchell wrote in an email on March 6 to the leadership team.

“We are keeping a close eye on media coverage and enquiries and will keep these Q&As updated as needed,” Mitchell said.

One key message for staff was: “A reminder about transparency. We know there will be a lot of eyes on us as an organisation in the coming days.”

Under the Q&A question, ‘Why is the Governor resigning?’, it says, “The Governor’s decision to resign is personal.”

Reserve Bank board chairman Neil Quigley spoke to reporters after Adrian Orr's shock resignation. His press conference wasn’t in the original comms plan.

The last question - highlighted in yellow - is, “Back pocket, only if pushed: Q. Was this resignation forced or compelled?”

“No. The role of Governor of the Reserve Bank of New Zealand attracts substantial attention, speculation, and criticism, which Adrian has handled with grace over the past seven years.

“He is leaving on his own terms after driving a significant strengthening of RBNZ’s capability and capacity.”

RBNZ also produced a detailed communication plan around his exit, in advance of his resignation becoming public.

A six page document titled, “Project Baroda - Comms and Engagement Plan”, outlined RBNZ’s moves, including releasing information internally and externally at the same time “so no-one has any insider knowledge”.

“This announcement won’t be expected by markets – so we will need to work quickly to provide reassurance and stability,” the plan says. “It also won’t be expected by our people, and at a time of great change (and more to come) this could be unsettling news.”

It delineated areas of communication. RBNZ board chair Neil Quigley’s “area of communication” included, “comments about Adrian’s contribution to RBNZ”.

Orr’s was, “comment on reasons for departure/decision/s - if appropriate/supporting stability message”, “very proud of institution – it’s role, it’s people, it’s mahi” [sic], and “internally – more informal departure event/comms?”.

Under “Possible sequence of comms/engagements” it lays out its plan for March 5 - the day Orr’s exit was announced.

At 1.30pm, the executive leadership team were to be called, and at the same time the media release, set to be released to the general public five minutes later, would be sent to Finance Minister Nicola Willis’ office and the RBNZ board.

That one media release, which does not state why Orr resigned, was signed off by legal reps and the board chair.

RBNZ staff are emailed at 1.35pm with the media release, and are invited to a series of updates and “townhalls” across the afternoon, if their “leaders chose” [sic].

The plan did not include an afternoon press conference which would go on to be held by Quigley.

It then has a section named “holding line/s”.

“Until any decision has been made (by any party – Board, Adrian Orr, Minister of Finance) the response to any request for information and comment on speculation should be to decline to comment.” (The latter appeared in bold.)

“The exact response will depend on the nature of the request/information available.”

The comms plan included detailed “Speaking notes for Governor’s update”, which was planned to be held half an hour after the media release.

These were “not scripted, but format and high level speaking notes…”, by Christian Hawkesby.

“Be: Calm and authoritative. Assume it will be shared” it says in pink, bolded font.

“Thank you for joining us for this special gov’s update. You may have read the announcement sent out a short while ago about Adrian’s resignation,” it reads.

“As Acting Governor I’m stepping in an important time for our organisation, which as we all know plays a critical role in the lives of all New Zealanders.”

Further down in the speaking notes document, it has a section “for the leaders’ call”.

It says: “If it feels hard right now - it's because it is. This is a challenging time for our organisation. However, how well our people (and the organisation) copes with this change is absolutely within our control.

“We are the leaders of this Bank. In this moment we each need to be the best leaders we can be. This is where the rubber hits the road from Kia Māia programme, we need to focus on leading with Empathy, Courage and Perspective.”