New Director and Chief Executive for Investment Arm

A new Director and Chief Executive have been selected for the company managing NPDC’s Perpetual Investment Fund.

New Director Elaine Gill will join the board of Taranaki Investment Management Ltd (TIML) on 1 June this year. Her appointment will ensure the board remains at full strength after its Chairman John Armstrong retires from TIML on 1 December 2008. The TIML board will select a new Chairman following Mr Armstrong’s retirement.

Mrs Gill is well-known in the Taranaki region. An NPDC Councillor from 1998 to 2007, she is currently chair of both the TSB Bank Board of Directors and the Taranaki Arts Festival Trust.

TIML’s new Chief Executive from 4 August this year will be Michael Trousselot, currently CEO of Development West Coast which manages a multi-million dollar fund to support employment and economic growth on the west coast of the South Island.

Mr Trousselot has worked in financial and senior management positions in a variety of publicly listed organisations, private companies and service organisations. His areas of expertise include general management, relationship and contract management, treasury functions, financial investment markets, private equity assessment and business lending.

Both appointments were endorsed by NPDC on recommendation from TIML, which conducted an extensive recruitment search for each role.

Elaine Gill

Born in England, Mrs Gill has lived in New Plymouth since 1971. She is married with two grown children. A company director since 1986 she has served on the board of TSB Bank Ltd, of which she is currently chairperson, and RadioWorks. She has also served on a number of national institutions including the NZ Consumer Council and the NZ Conservation Authority.

Mrs Gill was a New Plymouth District Councillor for nine years, retiring at the last election. During her time on the council she was the chairperson of both standing committees, serving six years as chair of the Monitoring Committee and three as chair of the Policy Committee. She was also a member of the council’s Investment Subcommittee during all three terms.

For 12 years Mrs Gill was the Chief Executive of Tourism Taranaki, the regional tourism organisation. During her time in tourism she served on the board of a number of national organisations and was the winner of two national tourism awards and a finalist in a third. She has also been recognised internationally by the Smithsonian Institution for her work with the initiation and development of heritage trails in New Zealand.

Mrs Gill has a degree in law from the University of Otago and in 1999 was awarded a ONZM (New Zealand Oder of Merit – officers) for her work in the community.

Michael Trousselot

Michael was born in Christchurch, New Zealand on 15 September 1958. He is married to partner, Pene and has four adult children. Michael holds a Bachelor of Commerce from Canterbury University, with a double major in accounting and business administration. He is a current member of the Institute of Directors, and corporate member of the New Zealand Institute of Management, Canterbury Chamber of Commerce and New Zealand Venture Capital Association.

Michael’s current role is Chief Executive Officer of Development West Coast. This is a role he has held for six years. Development West Coast is a $120 million fund, operating in the areas of investment markets, economic development projects and regional investments into business. His previous role was as general manager of Pegasus Health in Christchurch, for five years, which is a primary health organisation with more than 100 medical practices providing the majority of primary health care to the population of Christchurch. Prior to these roles, Michael has worked in a range of listed New Zealand companies, private companies and service organisations. A common theme in those roles has been developing systems, business expansion, efficiency and profitability, making investments and controlling the financial and treasury functions. His areas of expertise include general management, relationship and contract management, treasury functions, financial investment markets, private equity markets and commercial lending.

Michael’s personal interests include boating, cuisine, and a wide range of sports. He is a Crusaders supporter.

Michael is excited by the new role, impressed by TIML’s track record, the strength of its board and future aspirations, and the vision of NPDC in establishing the Perpetual Investment Fund. He will start work on 4 August 2008 and is looking forward to settling in New Plymouth and working with TIML’s stakeholders.