Todd Corporation: what went wrong?

Todd Corporation: what went wrong?
Key departures from Todd Corp since 2022: Henry Tait, Jon Young and Paul Moore. (Image: BusinessDesk)
Pattrick Smellie
For decades, the surname “Todd” has been a byword for wealth and discretion.Often described, much to its displeasure, as “New Zealand’s richest family”, the Todd dynasty stretches back to Charles Todd’s establishment of an Otago wool scour in 1884.By the middle of the 20th century, Todd Motors was one of the largest producers of cars in NZ before selling to Mitsubishi in 1987.AssetsIn a partnership that began in 1959, its wealth was primarily tied up in NZ oil and gas production with Dutch oil giant Shell in...

More Finance

Wisdom from Milford’s ‘oldest’ fund manager
Finance

Wisdom from Milford’s ‘oldest’ fund manager

Stephen Johnston has been watching markets since 1997.

Gregor Thompson 09 Jan 2025
RBNZ issues first non-bank deposit-taker licence in nearly a decade
Finance

RBNZ issues first non-bank deposit-taker licence in nearly a decade

The Reserve Bank of New Zealand has issued a non-bank deposit taker licence to newly formed finance company Welcome.The last time the central bank issued a license was in 2017 to Christian Savings, which was previously licensed as Christian Savings Incorporated, according to the...

Staff reporters 08 Jan 2025
M&A outlook: get set for big ticket IPOs
Finance

M&A outlook: get set for big ticket IPOs

Experts are picking a surge in mergers and acquisitions activity for 2025.

How tax rules discourage wealthy investor migrants
Finance

How tax rules discourage wealthy investor migrants

Covid refugees facing a four-year time limit on tax status are forcing the issue.

Pattrick Smellie 06 Jan 2025