More than just accountants
Tower's Michael Boggs was named the country's top chief financial officer at the New Zealand CFO Awards in Auckland tonight.
Boggs received the gong for leading the sales of Tower's life insurance, health insurance and investment management businesses, as well as developing stand-alone audited accounts for each.
He also restructured Tower's central overhead costs to a lower level that supported the more focused general insurance company.
He beat William Meek of Mighty River Power, Peter Floris of The New Zealand Merino Company and Robert Bell of Cristal Air International to claim the top award of the night.
The awards' panel of judges including Chye Heng, Jonathan Mason and Nick Olson.
''Tower had to go through an enormous change and it is not easy to divest several different parts of a business and create a new business unit, all while maintaining a reasonable level of overhead, but Michael Boggs delivered it,'' Mason said.
''The financial statements of the assets for sale were spot on and the whole process went very well.''
Boggs had a can-do attitude, an engaging personality and a focus on creating shareholder value ''which propelled him beyond just being an accountant.''
Bevan Gray of Tararua District Council won the Young Financial manager of the Year award.
Heng said Gray was the stand-out contender and was was commended by the panel for delivering results to ratepayers while managing the finance organisations of two different councils.
Gray also worked for Central Hawke's Bay District Council.
''Bevan's strategic thinking and 'value for ratepayers money' approach are admired, as was his ability to bring out the best in his team to significantly raise the performance level of the finance function,'' Heng said.
The judges said he had performed over and above what was required of him, is an asset to the public sector and has a bright future
''His understanding of the multiple stakeholders combined with humility, common sense and intelligence, were a model of the blend of skills required by local government leadership to perform at the highest level.''
The Financial Innovation Project of the Year award went to Meridian Energy for its completion of the country's largest initial public offering, while ensuring majority New Zealand ownership.
- Fairfax Media