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

Tue, 19 Jul 2022

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...

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