No pressure to leave - Trevor Janes
Mighty River Power deputy chairman Trevor Janes says he has been under no pressure to stand down from the board because of his links to failed finance company Capital+Merchant.
Janes said in August that he would not seek re-election at Mighty River Power's annual general meeting next month. He has been a director for eight years.
Another MRP director, Jon Hartley, stepped down in February, ahead of the state-owned power company's partial-listing in May.
Janes, who has also stood down from the Public Trust but remains chairman of Abano Healthcare, said he was stepping down from MRP because of other commitments.
"I had a bit much on and I think with the Mighty River thing, I've probably reached the stage where they need to do some succession planning," he said.
Janes was one of two Capital+Merchant directors who was not pursued by the Serious Fraud Office after the finance firm went into receivership in 2007, owing investors $167 million.
Janes, who resigned from Capital+Merchant a year before its collapse, said there had been "absolutely no suggestion that I've done anything wrong".
He was not intending to step back from Abano or several other directorships, including ACC and GP network ProCare.
Capital+Merchant directors Neal Nicholls and Wayne Douglas, and chief executive Owen Tallentire were all jailed for fraud last year.
Earlier this year, the three men and two more directors, Colin Ryan and Robert Sutherland, pleaded guilty to additional charges of making untrue statements in the company's prospectus.
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