Many Ngai Tahu leaders are demanding answers after an apparent boardroom coup removed Wally Stone, the businessman who chaired the iwi's business arm, Ngai Tahu Holdings Corporation.
He was reportedly dumped at a closed meeting of the iwi's central Te Runanga o Ngai Tahu (Tront) committee held in
Christchurch yesterday.
Mr Stone, of Kaikoura, who has been on the Ngai Tahi board since 2006 and chairman for the past two years, was replaced by Linda Constable, who was appointed interim chairman.
Sources told The Press that the 18 Tront representatives voted 11 to seven to remove Mr Stone as chairman, with effect from 6pm yesterday.
Tront kaiwhakahaere Mark Solomon refused to comment on the dumping last night, saying he would talk this morning.
Mr Solomon said in a statement Mr Stone had overseen steady growth in the commercial portfolio of Ngai Tahu, including a number of significant new investments.
The Ngai Tahu Holdings Corporation manages a $600 million asset group that includes property, tourism and seafood.
Runanga leaders spoken to by the Otago Daily Times last night said they could not understand why Mr Stone had been sacked, particularly as he had been responsible for a significant improvement in the corporation's financial result during his two years at the helm.
Kaikoura runanga chairman Thomas Kahu said it was "absolutely unthinkable" that Mr Stone should be sacked.
"He has led our tribe out of difficulties. The latest results are exceptionally strong," Mr Kahu said.
Otakou runanga chairman Tahu Potiki said the decision was "abysmal" and Mr Stone had provided "some pretty solid leadership".
West Coast Te Waewae runanga chairman Francois Tumahai said he was "appalled" by the decision.
The Otago Daily Times said Mr Tumahai believed Mr Stone's sacking had been "payback" for his support for attempts by a group of Tront members known as the "tight nine" to oust Mr Solomon.
"He and his members have built us up to the point where we are doing really, really well. Now they get rid of him. It's appalling," Mr Tumahai said.
- NZPA
