Four NZAI board members quit, as fight brews with major shareholder

Four NZAI board members quit, as fight brews with major shareholder
Former chair Karl Smith and outgoing chief executive David Page pose for a photo ahead of listing on the NZX. (Photo: NZAI)
Dan Brunskill
Almost the entire board of NZ Automotive Investments has given notice this morning, leaving majority shareholder David (Yusuke) Sena as the only director remaining.NZAI is better known for its automotive retail brand, 2 Cheap Cars.The resignations take effect on Aug 20, or as soon as the company is able to appoint new directors that meet the requirements of NZX listing rules.Chair Charles Bolt, directors Tim Cook and Tracy Rowsell, as well as executive director and co-founder Eugene Williams, have all said they will step down from the car deale...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025