News release issued by the Minister of Finance
Experienced director Susan Paterson has been appointed to the Reserve Bank board, Finance Minister Grant Robertson announced today.
“Susan Paterson brings a wealth of private sector experience with her. She has also served on public sector boards, and has good knowledge of monetary policy as a former advisor to the Reserve Bank’s previous Monetary Policy Committee,” Grant Robertson said.
“She brings significant and senior governance experience, including on audit and risk committees, and good knowledge of governance oversight of a regulatory body.”
Susan Paterson’s term begins on 1 July. She replaces Keith Taylor who is retiring after two terms on the board.
The changes mean the Reserve Bank board will have a gender balance for the first time in the Bank’s 85-year history.
Grant Robertson also announced today the reappointment of Tania Simpson for a second term on the board, and thanked Keith Taylor for his work over the past 10 years.
Susan Paterson has senior executive experience in a number of companies in New Zealand, the USA and Europe and is a professional director with over twenty years of governance experience. Previous Crown appointments include directorships of Airways (Chair), the Tertiary Education Commission, Housing New Zealand, Transpower and the Energy Efficiency and Conservation Authority. She is currently a Member of the Electricity Authority and a director of Goodman Property, EROAD, SKY Network Television Ltd, Arvida Ltd, and Les Mills Ltd, and is Chair of Theta Systems and Steel and Tube Ltd. Previous private directorships include Abano Healthcare Group Ltd, Ports of Auckland Ltd, Tower Health and Life, Auckland Regional Holdings Ltd and Americas Cup Village Ltd. She was also the Chair of the New Zealand Eco-Labelling Trust and recently an external advisor to the previous Reserve Bank Monetary Policy Committee. She was awarded Officer of the NZ Order of Merit in recognition of her services to corporate governance in the New Year’s Honours 2015. Her term lasts to 30 June 2024.