Half of CCHL board resign over rift with council over asset management

Half of CCHL board resign over rift with council over asset management
CCHL chair Abby Foote recently won a prestigious award given out by the New Zealand Shareholders' Association. (Image: NZSA)
Oliver Lewis
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, a number of key city assets, including Lyttelton Port Company, Christchurch...

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