Tainui seeks new chief executive

Mike Pohio.

Wealthy Waikato-headquartered Tainui Group Holdings is hunting for a new chief executive after Mike Pohio resigned to pursue governance opportunities.

Chairman Sir Henry van der Heyden said Pohio had been eight years at the helm and had seen assets grow by $500 million.

Last year, Waikato-Tainui declared its asset base had risen from $925.1 million to $1.06 billion.

The business is now poised to embark on its biggest venture yet - the controversial $3.3 billion freight hub or inland port scheme at Ruakura.

Waikato Tainui got that Ruakura land in a Treaty of Waitangi settlement and has been wanting to develop about 500ha in partnership with Chedworth, owning an adjacent 116ha.

Van der Heyden paid tribute to Pohio.

"Mike has led signature projects such as the development of New Zealand's largest shopping centre, The Base, the award winning Novotel Auckland Airport Hotel, and securing a zoning change for Waikato-Tainui land at Ruakura," he said.

Pohio also led the charge to diversify Tainui's investments beyond property, and the company has taken the first steps with shareholdings in Waikato Milking Systems, Go Bus and Genesis Energy, van der Heyden said.

Maxine Moana-Tuwhangai, who chairs Te Kauhanganui, the Waikato-Tainui Iwi Authority, thanked Pohio for his leadership.

"Mike Pohio has positioned Tainui to grow returns for Waikato-Tainui and helped us start our journey to diversify our investments. He has built a highly capable team at TGH and brought the tribe's values into the business," she said.

The Tainui board will conduct a comprehensive search for a new chief executive and Pohio finishes mid-April.