Team New Zealand chairman Keith Turner resigns
Team New Zealand say they won't be rushing to replace Keith Turner, who has resigned as chairman of the America's Cup syndicate.
Turner confirmed his departure from the position at the head of a five-strong board, declaring he couldn't do the job justice from his Tauranga base with so much of the team's business focused in Auckland.
Turner holds directorships with Fisher & Paykel, Auckland International Airport and Chorus.
Team New Zealand released a statement saying they were reviewing their governance and no decision would be made on a board chairman till that was carried out.
"We recognise that private funders both current and future should have a greater role in setting the direction and providing oversight of the campaign.
"Until we reach a conclusion with regards to the most appropriate governance arrangements we will not be formally appointing a chairman to replace Dr Turner," the statement read.
Turner headed the board in the aftermath to the San Francisco meltdown where the Kiwis surrendered an 8-1 lead to defender Oracle Team USA.
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The board was increased last year as pressure mounted on the team's governance systems.
"We thank Dr Turner for his significant contribution during his tenure and recognise the heavy demand that has been placed on both Dr Turner and the other directors," Team New Zealand CEO Grant Dalton said of a schedule that has seen meetings called at late notice as the syndicate tries to plot a way forward.
Turner's departure continues Team New Zealand's rocky ride towards Bermuda 2017.
The syndicate endured a tough time under Turner's short reign which included the messy departure of long-term skipper Dean Barker and the loss of the Auckland hosting rights for the challengers series in January 2017.
They were handed to America's Cup host Bermuda amid controversial changes to the event format mid-cycle that included reducing the size of the foiling catamarans.
Team New Zealand have taken that to the Cup's arbitration system though are still awaiting the confirmation of the make up of the arbitration board.
Dalton is in Europe trying to bolster the syndicates funding.
Government assistance beyond the $5 million already invested in the immediate wake of the 2013 Cup loss in San Francisco looks unlikely unless Team New Zealand can reverse the Auckland decision.