NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Economy / Employment

Faces at top of the chain

Tamsyn Parker
By Tamsyn Parker
Business Editor·NZ Herald·
16 Sep, 2012 10:45 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Joan Withers. Photo / Supplied

Joan Withers. Photo / Supplied

New research on NZ boards of directors reveals an influential core of 17 movers and shakers.

New Zealand's most influential and connected directors are made up of a core group of 17 men and women, according to new research on New Zealand's director network.

Kevin McCaffrey, a former partner at PriceWaterhouse Coopers who now runs his own governance consultancy business, said he undertook the two-month research project because he believed there was a lack of understanding and clarity of the director network.

"There is a complete paucity of primary research of New Zealand's directors' network. This gives rise to comments like there is an old boys' network."

Based on a study of boards in Britain, McCaffrey analysed the directors on 350 New Zealand organisations to look at the degree of separation between directors, how clusters of boards are connected and where each board is positioned in New Zealand's board network.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The research revealed a core cluster of 54 boards, which McCaffrey narrowed down to 24 which he said formed the core of the director network.

McCaffrey said it was interesting to note that the board of TVNZ was a connector board between other major companies and that Mighty River Power - a state-owned energy company due to be listed on the stock exchange next year - had a number of very well-connected directors.

He also analysed how many boards each director sat on. Of the 1428 directors, 86 per cent sat on just one board.

McCaffrey said that showed only 15 per cent acted as interlocking directors.

Advertisement
Advertise with NZME.

The numbers reflected international trends but he said it was concerning that so many directors sat on only one board.

"[This] is a worry because they do not have the chance to build depth to their governance experience."

He found 61 directors sat on three or more boards, with one male director sitting on seven boards.

The research also revealed that the proportion of women increased with the number of board positions held.

Discover more

Business

Directors' bill too strict - law firm

09 Sep 05:30 PM
Employment

Big push for diversity at top of the chain

16 Sep 05:30 PM

Of the total 1428 directors, 13 per cent were female. But of the 61 directors who sat on three or more boards 24.5 per cent were female.

Looking more closely at the 24 core boards, and ranking directors on the number of boards they sat on, produced a list of 17 people.

McCaffrey said there was a group of recently retired chief executives at the core of the network.

They included former Progressive Enterprises managing director Ted van Arkel, former ANZ boss Sir John Anderson and former Foodstuffs managing director Tony Carter.

McCaffrey said the small number of directors with influence was not surprising given the small size of New Zealand's capital markets.

"It gives us a glimpse of the potential to influence board appointments, connectivity that provides for investment floats, and the potential for brokerage about knowledge of people and brokerage of knowledge within a network," he said.

Advertisement
Advertise with NZME.

McCaffrey said he believed a board should reflect the demographic of the market it was serving.

"If you are in retail you should reflect the diversity and demography of the market. It ensures and aids the voice of the market being served."

McCaffrey said he intended to repeat the research on an annual basis and hoped to do a breakdown of age and ethnicity in the future.

The core 17:

Joan Withers, Mark Tume, Susan Paterson, Tania Simpson, Bryan Mogridge, Alison Paterson, Ted van Arkel, Hugh Fletcher, John Anderson, Tony Carter, Rick Christie, Elizabeth Coutts, Selwyn Cushing, Trevor Janes, Bruce Irvine, James Miller, Keith Smith.

Save

    Share this article

Latest from Employment

Property

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

01 Jul 10:57 PM
Premium
Property

Watch: First look inside City Rail Link’s unique new Te Waihorotiu Station

30 Jun 03:00 AM
Premium
Opinion

Liam Dann: Never mind the swear words, our politicians need to raise the quality of debate

28 Jun 05:00 PM

There’s more to Hawai‘i than beaches and buffets – here’s how to see it differently

sponsored
Advertisement
Advertise with NZME.

Latest from Employment

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

01 Jul 10:57 PM

'Ikea is likely to open around the Christmas trading period at the end of this year.'

Premium
Watch: First look inside City Rail Link’s unique new Te Waihorotiu Station

Watch: First look inside City Rail Link’s unique new Te Waihorotiu Station

30 Jun 03:00 AM
Premium
Liam Dann: Never mind the swear words, our politicians need to raise the quality of debate

Liam Dann: Never mind the swear words, our politicians need to raise the quality of debate

28 Jun 05:00 PM
Premium
'Pallet hotel' - Foodstuffs South Island boosting frozen storage by more than 200%

'Pallet hotel' - Foodstuffs South Island boosting frozen storage by more than 200%

22 Jun 09:00 PM
From early mornings to easy living
sponsored

From early mornings to easy living

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP