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Two New Directors For Reserve Bank

Fuseworks Media
Fuseworks Media

Wellington, April 24 NZPA - The Government announced two new appointments to the Reserve Bank's board of directors today.

They are Christchurch consultant and professional director Sue Sheldon, who will begin on May 1, and Wellington consultant and professional director Keith Taylor, who will begin on July 1.

Finance Minister Bill English said new directors with particular accounting and financial knowledge had been sought.

Ms Sheldon was a chartered accountant with experience as a director in organisations including state-owned enterprises and private sector companies such as Freightways, Contact Energy, Smith City Group, and the Wool Industry Network.

Mr Taylor had been chief executive and chief financial officer of the publicly-listed company Tower. He also had experience as a director of the Earthquake Commission, Government Superannuation Fund Authority, and was a member of the Takeovers Panel, Mr English said.

The main role of the Reserve Bank's board was to review the performance of the governor and the bank, including whether monetary policy was meeting government policy targets.

The board normally consists of seven non-executive directors plus the governor. The new directors replace Marilyn Waring, who completed a five-year term in February, and Paul Baines, who leaves in June after two terms.

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