Holding company appoints new chairman

Long-serving Invercargill city councillor Graham Sycamore is the new chairman of the city's holding company.

He takes over the position from Norman Elder, who had been chairman of the company for about six years and served on the board for more than a decade.

The position will see Cr Sycamore take charge of the city council's range of assets owned by the council 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.

Cr Sycamore said he was excited by the position but had "big shoes to fill" after the departure of Mr Elder.

He had a lot of respect for the outgoing chairman and said he had done great work for the companies, he said.

Cr Sycamore did not expect his post to be plain sailing and in the short term, the board faced making several decisions. That included the upgrade of the airport, he said.

Cr Lindsay Thomas has also been appointed to the board, joining Cr Alan Dennis, who has retained his position around the table.

Cr Dennis said he was extremely pleased with the appointment of Cr Sycamore, while the board would miss the skills and expertise of Mr Elder, who he regarded as an "excellent chairman," Cr Sycamore brought a breadth of knowledge, he said.

Mr Elder's removal from the board was because of his decision not to seek re-election as a city councillor.

He would miss contributing to the community through Holdco but would consider applying for one of the two independent positions on the board when they came up for consideration, he said.


The Southland Times