NZ RegCo questions independence of NZAI board candidates

NZX’s market regulator has asked NZ Automotive Investments’ board of directors to provide an assessment as to whether their proposed replacements can be considered independent. The majority of the company’s board gave notice last month after the largest shareholder, David Sena, said he would vote to remove them at a shareholder meeting on Aug 25. Sena has since named four candidates to replace the board, two of which have already withdrawn, leaving just Gordon Shaw and Michael Stiassny – who was nominated just...