Van der Heyden appointed Tainui director

Henry van der Heyden. Photo / Richard Robinson

Fonterra chairman Sir Henry van der Heyden has been appointed to the board of Tainui Group Holdings as an independent director.

TGH, which is tasked with managing the commercial assets of the Waikato-Tainui people, made the announcement yesterday via a press statement that it had secured the services of Sir Henry who will replace long-serving John Spencer as one of the board's three directors.

TGH chief executive Mike Pohio said his appointment would maintain the organisation's momentum.

He said it was likely TGH could lean on Sir Henry, who is also a director of Auckland International Airport Ltd, Rabobank Australia, Rabobank NZ, Elevation Capital Management Ltd, Pascaro Investments Ltd and Manuka Ltd, for his considerable expertise.

"We do that with the various members of our board as we undertake our business," said Pohio. "That's the normal requirement for a very good strong interface between board and management."

Spencer, in his 10th year as chairman, said he enjoyed his involvement with Waikato-Tainui but it was time for a change and he welcomed the appointment of Sir Henry.

The resignation of Mr Spencer from the TGH board is effective from June 30.

Sir Henry will become a director on the board the following day and the board will elect a new chairman at its first meeting following the changeover.

Meanwhile, TGH has also appointed chartered accountant and professional director Joanna Perry as a specialist adviser to the board.

Her board appointments include Genesis Energy, Trade Me and Sport and Recreation New Zealand.

TGH has built a considerable portfolio of investments and commercial assets including The Base and Novotel Auckland Airport.

Its 2011 annual report showed the organisation had revenue growth of 16.3 per cent and its total assets were worth $658 million.