ANZO's manager appoints new independent chairman and directorApril 6, 2005 AMP Multiplex Management Limited, the manager of AMP NZ Office Trust (ANZO), today announced the appointment of two independent directors, Craig Stobo and Graeme Horsley, effective from 5 April 2005. Mr Stobo has accepted the position of chairman and takes over from the incumbent chairman, Rob Morrison, and Mr Horsley will replace Chris Judd. ANZO Executive Manager, Rob Lang, said, “Mr Morrison’s contribution to ANZO’s growth has been outstanding – having chaired the manager through a period where ANZO’s earnings, portfolio value and management operations have improved significantly. The appointment of independent directors to the board is a logical progression for the manager and is in accord with the Securities Commission’s Corporate Governance in New Zealand, Principles and Guidelines and New Zealand Exchange’s Corporate Governance Best Practice Code, which recommends having an independent chairman and directors for a publicly owned entity”. Outgoing chairman, Rob Morrison, said, “The manager and ANZO’s unit holders are extremely fortunate to have appointed Craig Stobo and Graeme Horsley, two highly regarded businessmen, to further bolster the strength of the board. We think the appointments reflect an excellent mix of industry specific and other commercial expertise and this will benefit unit holders significantly.” New chairman Craig Stobo has a strong background in funds management and the capital markets and was formerly the chief executive of BT Funds Management NZ Limited. Mr Stobo now holds a number of directorships and is deputy chair of Industrial Research Limited. He is author of the recently published report: Towards Consensus on the Taxation of Investment Income, of which Hon Dr Cullen said ‘A significant momentum for change now exists around some highly complex and difficult areas of tax law and much of the credit for that must go to Craig Stobo.” Graeme Horsley is a former Partner of Ernst and Young’s real estate practice and is widely recognised as an expert in property investment and valuation both in New Zealand and abroad. He is a member of the American Society of Real Estate Counsellors and a member of the Institute of Directors in New Zealand. He is currently a Government appointed deputy chair of the Bay of Plenty District Health Board and has previously held directorships of CBD New Zealand Limited, Meridian Centre Limited, Carter Group Limited, Trustbank Wellington, Housing New Zealand, Apparel Holdings Limited and Independent Taverns Limited. “The board is very excited about the opportunities available to ANZO and its unit holders and looks forward to the challenge to build on the robust track record that ANZO already has,” Mr Morrison said. Newly appointed chair, Craig Stobo, said he was excited at the opportunity to chair the manager of New Zealand’s largest investor of prime and A-grade commercial office property. ANZO owns an exceptional portfolio of office buildings and I look forward to leading and contributing to its continued growth. The current board of ANZO’s manager, AMP Multiplex Management limited, is Craig Stobo (chairman), Graeme Horsley, Anthony Beverley, Andrew Bennett, Ian O’Toole and Peter Murphy. About ANZOANZO is New Zealand’s largest listed investor in commercial office property. A unit trust listed on the New Zealand Exchange, ANZO invests predominantly in prime and A-Grade CBD office properties in major New Zealand cities. ANZO currently owns ten New Zealand office buildings with a total value of more than $760 million – Auckland’s PricewaterhouseCoopers Tower, ANZ Centre, IAG House and Quay Tower; and Wellington’s State Insurance Tower, Mobil on the Park, HP Tower, 125 The Terrace, No. 1 and 3 The Terrace and Pastoral House. ANZO is managed by AMP Multiplex Management Limited. Media enquiries: |