Fund management sector specialist Rebecca Thomas is to replace Sir Henry van der Heyden as an independent director on the board of Tainui Group Holdings, Waikato-Tainui's commercial investment arm.
Sir Henry, a former chairman of Fonterra, retires next month after nine years on the TGH board, where he was chairman.
Like Thomas, he was appointed to the TGH board by Waikato-Tainui.
Thomas, who has a law degree, has 35 years experience in the funds management sector in New Zealand and overseas, including 15 years as founder and chief executive of Mint Asset Management and previous senior roles for ING (NZ) and Johnson Fry, a London-based funds management firm.
She has governance experience on the boards of the Financial Markets Authority and KiwiRail.
Van der Heyden said Thomas' appointment aligned with an anticipated increased focus by TGH on funds management for the Waikato-Tainui, as the 2003-founded business continued to diversify alongside its active management of commercial assets including property, farms, forestry, hotels and retail.
TGH manages around $950 million of assets including shares. Its major projects include development of the 92ha of the Ruakura Superhub due to open mid-next year, and construction of new regional headquarters for ACC in Hamilton.
TGH developed major Hamilton retail precincts The Base and Te Awa at Te Rapa.
Two new TGH directors are expected to be named soon as representatives of Te Arataura, the iwi executive committee of Te Whakakitenga o Waikato, the iwi parliament, said a TGH spokesperson.
