APN News & Media, owner of the New Zealand Herald, has announced the appointment of Sir John Anderson as "chairman designate" for a new company that will own the newly re-branded NZME. businesses formerly operated under APN New Zealand branding.
APN NZ, TRN and GrabOne, with publishing, radio, digital and e-commerce assets, were recently re-branded under one overarching NZME. banner.
APN chairman Peter Cosgrove said as part of the ongoing consideration of an initial public offering (IPO), "an approach had been made to Sir John to join the new NZME. Board, subject to confirmation the listing would go ahead."
Anderson, a former chief executive of ANZ Bank and former chair of TVNZ, said he was excited about the prospect of working with NZME. which had "a wonderful collection of high quality brands across print, radio and digital."
"There is a huge platform there for the business to create a fully integrated media and entertainment company," he said.
Anderson said he was confident that the IPO process was on track.
There would be local demand for the stock because since the departure of Wilson & Horton there hadn't been anything quite like it on the New Zealand market.
"I think an IPO is good for New Zealand," he said. "Even with APN at 40 per cent we'll see New Zealand shareholders there and that brings another whole dimension."
Cosgrove described Anderson as "one of New Zealand's most experienced directors, and over many years had been involved in market leading and high profile organisations in New Zealand and Australia."
"It is a great endorsement for NZME. that the company and management team can attract one of New Zealand's most respected directors, who clearly sees the potential of the business and believes he can play an important role in helping shape its future success," said Cosgrove.
Anderson is currently chairman of Steel & Tube Holdings, NPT, Deputy Chair of Turners & Growers and a director of the Commonwealth Bank of Australia. He was the former Chairman of the NZ Venture Investment Fund, Television New Zealand and PGG Wrightson. He was CEO and director of ANZ National Bank Ltd from 2003 to 2005 and National Bank of NZ Ltd from 1989 to 2003.
Cosgrove also confirmed NZME. had finished a programme of presentations to banks as part of the proposed IPO process, and that it will be commencing a formal Request for Proposal (RFP) in the near future.
Watch: APN relaunches as NZME.