The Power Company Ltd (TPCL) is recognising the significant contribution of outgoing Chair Peter Moynihan as it prepares to welcome two new directors to its Board.
Mr Moynihan stepped down from the TPCL Group board last week, bringing to a close nine years of service with The Power Company, including several years as Chair.
TPCL is owned by Southland Electric Power Supply Consumer Trust (SEPSCT). Trust Chair Carl Findlater said Mr Moynihan had helped guide the company through a period of significant change.
“The Power Company and the Trust have been very fortunate to have his leadership,” Mr Findlater said.
“Peter’s work with us has been admired and appreciated, and he will be a hard act to follow. On behalf of the Trust and The Power Company’s consumers, we thank him sincerely for his service.”
Mr Moynihan said he was particularly proud of leading the board in resetting the strategy that led to the sale of Southern Generation, which provided a very good return on investment.
“This enabled us to recycle the capital and secure our own shareholding in three joint ventures, being OtagoNet, Lakeland Network, and PowerNet,” Mr Moynihan said.
“Taking control of PowerNet has enabled faster decision-making and a new strategy focussed on efficiency and customer service.”
Long-standing director James Carmichael has been appointed as the new chairman for TPCL.
Director Wayne Mackey also stepped down from the Board last week, after nine years as a director.
Mr Mackey will continue to support the company as an adviser for a further 12 months, providing continuity as the new Board members settle into their roles.
The two incoming directors are Santilal Parbhu and Ross Pickworth.
The appointments were made with the future needs of the company and electricity sector in mind.
Both Mr Parbhu and Mr Pickworth bring strong engineering backgrounds which will be increasingly valuable as the electricity industry responds to new technology, changing consumer expectations and a rapidly evolving energy system.
