Joan Withers, the chair of state-owned power company Mighty River Power, is set to join the board of ANZ New Zealand from the start of July.
Withers will become an independent director of the country's biggest bank, effective July 1, ANZ said in a statement. The appointment has been approved by the Reserve Bank, and will come after the sell-down of the government's stake in MRP.
She will join former Foodstuffs boss Tony Carter and Norman Geary as independent directors on the board.
As well as being chair of MRP, Withers heads the board at Auckland International Airport and is deputy chair of Television New Zealand. Before becoming a professional director, she was the chief executive of Fairfax Media New Zealand and The Radio Network before that.
Withers is one of several named defendants in the class suit against the former directors, sellers and promoters of failed carpet maker Feltex over its 2004 initial public offer. The case is expected to reach the court room later this year.