The Government has just announced the formation of Crown Fibre Holdings Limited and unveiled its inaugural board.
Crown Fibre Holdings is the company that will manage the Crown’s investment in ultra-fast broadband infrastructure over the next 10 years.
Simon Allen, former New Zealand Exchange (NZX) Chair and founder and former managing director of ABN AMRO New Zealand, will lead teh new board as chair.
He is joined by board members Andrew Body, Miriam Dean QC, Dr Murray Milner and Keith Tempest.
Making the announcement, Communications and Information Technology Minister Steven said he is pleased with the high calibre of the inaugural board.
“Crown Fibre Holdings is being created as an expert and independent decision-making body, and this board represents the range of skills and experience necessary to deliver the government’s ultra-fast broadband initiative.
“We’ve committed up to $1.5 billion to this and we expect that to be at least matched by private sector investment. An investment of this size requires the commercial, technical and legal expertise and nous that this board brings.”
According to the minister announcement, appointments to the company’s are for a three-year term, commencing immediately, while further board members may be announced at a later time.
Simon Allen is described as a highly regarded investment banker with more than 20 years experience. He formed ABN AMRO New Zealand in 1988, and was chief executive up to September. He chaired NZX from 2001 until 2008.
Previously Allen advised the Crown on the sale of Contact Energy, the Auckland Energy Trust on its investment in Mercury Energy (now Vector) and Telecom Corporation of New Zealand on the largest share buy back in New Zealand history.
Andrew Body has 19 years experience as a investment banker and private banker. He was a shareholder and director of FR Partners until 2001 and has since continued his interest in investment banking, with a focus on mergers and acquisitions, and strong experience in network industries.
Miriam Dean QC has extensive governance and commercial law experience. A former partner at Russell McVeagh, she is currently a barrister sole whose practise focuses on commercial and competition law, arbitration and mediation. She was made Queen’s Counsel in 2004 and was recently appointed as a member of the Auckland Transition Authority and has participated in the Government’s recent electricity review.
Dr Murray Milner is a telecommunications technology expert with a doctorate in electrical engineering and 34 years experience in the New Zealand ICT industry. He has held various senior positions at Telecom including chief technology officer. Since leaving Telecom in 2001 he has worked as a consultant and has also held a range of governance positions including chair of Harmonic, a software development firm specialising in applications for the telecommunications, agriculture and telecommunications sectors.
Keith Tempest is currently chief executive of TrustPower, but will retire in December, after 23 years with the firm. As chief executive he is recognised as having overseen strong commercial performance and has a strong track record of managing large capital projects.