Thursday, 28 March 2024

Announcement

DIRECTOR: NZX: NZX announces changes to Board of Directors

09 Mar 2017 08:30NZX
NZX today announces the appointment of Richard Bodman to its Board and the
resignation of Alison Gerry as a director.

Richard joins the NZX Board after more than 25 years'' experience working in
the financial services sector, including as a senior executive and director.
He brings extensive industry knowledge from the 17 years he served at FNZC
(previously First NZ Capital) where he held several executive roles,
including four years as Managing Director, Head of Compliance. Richard is
currently as an independent director of Forsyth Barr Custodians Limited and
Forsyth Barr Cash Management Nominees Limited.

Having reviewed the mix of skills and experience required by NZX''s position
at the centre of the capital markets network, the Board determined that it
would benefit from a director with deep experience in capital markets, funds
management and clearing. The Board is very pleased to have identified a
candidate of Richard''s calibre that ticks each of these boxes.

NZX''s securities clearing activities are a vital component of the New Zealand
financial system.  Maintaining sufficient governance experience to manage
NZX''s wholly owned subsidiary, New Zealand Clearing and Depository
Corporation (NZCDC), is a key requirement, reflecting the expectations of the
Financial Markets Authority and Reserve Bank of New Zealand as joint
regulators of the NZCDC settlement system, and a skill set that was
previously provided by Alison. Richard''s appointment will ensure continuity
in this role.

NZX Chairman James Miller commented: "The Board are focused on ensuring we
have a well-balanced set of governance skills and experience that is aligned
to NZX''s strategic priorities, and Richard''s appointment reflects this."

"NZX plays a critical role in supporting the development of New Zealand''s
capital markets and I am confident that Richard will make a valuable
contribution to our business and the markets network. We look forward to
welcoming him to the Board and the NZX team."

Richard''s appointment is effective, Tuesday 11 April 2017. In accordance with
the NZX Main Board Listing Rule 3.3.6, Richard will retire and offer himself
for election by NZX shareholders at the 2017 annual meeting.

As required by NZX Main Board Listing Rule 3.3.3(b), the Board has determined
that Richard is an independent director.

At the same time, the Board is announced the resignation of Alison Gerry as a
director, effective Thursday 13 April 2017.

Alison has served as a director of NZX since February 2012, and has
contributed enormously in the areas of clearing and risk management during
this time. Alison was Chair of NZCDC and a member of the Regulatory
Governance and Human Resource Committees.

NZX Chairman James Miller commented: "I have been impressed by the strength
of Alison''s contribution to the Board serving NZX through an exciting, but
challenging period, and want to extend a personal thanks for her wise counsel
and dedicated service."

"Alison is an exceptional talent, with her skills now recognised by New
Zealand''s highest quality companies. Alison leaves a passionate member of
NZX''s allumni network and we wish her all the best with her new director
responsibilities."

Alison''s decision to step down from the Board reflects the responsibilities
she has taken on with NZX listed issuers Spark New Zealand and Wellington
International Airport.

Richard Bodman bio:
Richard has spent more than 25 years working in the financial services
sector, including as a senior executive and director. He brings extensive
industry knowledge from the 17 years he served at FNZC (previously First NZ
Capital) where he held several executive roles, including four years as
Managing Director, Head of Compliance.

In addition to this, Richard implemented the compliance framework for Harbour
Asset Management when it was set up by FNZC in 2010, and served as a director
of that business for five years.

Prior to this Richard spent seven years as an inspector for the Securities &
Futures Authority in London.

Richard is an independent director of Forsyth Barr Custodians Limited and
Forsyth Barr Cash Management Nominees Limited, and a member of the Governance
Risk Compliance Institute and the Institute of Directors. He is a trustee of
the Scots College Foundation.

Richard has been a director of FNZC Securities (and other FNZC group
companies) and an NZX registered Compliance Manager. Richard is currently a
member of the NZ Markets Disciplinary Tribunal and will step down from this
role before his NZX directorship takes effect on Tuesday 11 April 2017.

For further information please contact:
Hannah Lynch
Head of Communications
T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com

About NZX Limited
NZX builds and operates capital, risk and commodity markets and the
infrastructure required to support them. We provide high quality information,
data and tools to support business decision making. We aim to make a
meaningful difference to wealth creation for our shareholders and the
individuals, businesses and economies in the countries in which we operate.
To learn more about NZX please visit: www.nzxgroup.com
End CA:00297999 For:NZX    Type:DIRECTOR   Time:2017-03-09 08:30:06
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