Best of BusinessDesk: Half of CCHL board resign over rift with council over asset management

CCHL owns several strategic assets on behalf of the Christchurch City Council, including Lyttelton Port Company. (Image: LPC)

Oliver Lewis

Tue, 14 Jan 2025

This article was originally published on May 15, 2024.Half the board members from a company controlling more than $5 billion of assets on behalf of the Christchurch City Council have abruptly resigned, citing a breakdown in the relationship with the council over its request to frontload dividends. Christchurch City Holdings (CCHL) announced the exodus on Wednesday night, the same day councillors met in secret to discuss governance-related issues, according to agenda documents. CCHL has a majority stake in, or outright owns, several ke...

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