Holdco dumps long-time director
Phil Mulvey has been dumped from the Electricity Invercargill Ltd board.
Mr Mulvey had been on the board for 12 years but said his time was probably up. He is the only incumbent director of city council-owned companies whose tenure was up that was not returned to his post.
The three directorship positions for the Invercargill City Council holding companies were advertised last month before interviews were carried out and the appointees announced yesterday.
They are Les Pullar for Invercargill City Forests, Tom Campbell for Electricity Invercargill Ltd and Sarah Brown, who has replaced Mr Mulvey on the Electricity Invercargill Ltd board.
Norman Elder, chairman of Holdco which is the holding company for council-owned companies, said he was pleased with the high calibre of applicants and the decisions made by a panel of Holdco board members.
The two incumbents brought a wealth of experience and good business knowledge, while Ms Brown brought extensive governance experience from her role as chair of the Southern Institute of Technology board, he said.
With more than a dozen applicants for the role, which were only advertised in local media, Mr Elder said people from all walks of life applied for the positions.
Despite Mr Mulvey applying to be reappointed to his post on Electricity Invercargill, Mr Elder said the panel made the "hard decision" against his reappointment.
"I would think he would be disappointed but he knows that each time we go through this process."
Mr Mulvey said he understood their decision and after 12 years he felt he had made a worthwhile contribution to the organisation.
Mr Elder was "relaxed" about the decisions that had been made.
There were no changes on the Invercargill City Property Ltd board and an announcement about appointments on the Invercargill Airport Ltd was expected later this week because of "technical difficulties".
WHAT IS HOLDCO?
Holdco is an Invercargill City Council- owned investment company that is run on behalf of the ratepayers.
The company owns Invercargill City Forests Ltd, Electricity Invercargill Ltd, Invercargill Airport Ltd (97.19 per cent council share) and Invercargill City Property Ltd.
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