NZME board play: Jim Grenon’s ‘extremist’ problem

One of only two circulating photographs of Jim Grenon (far left) in about 2012. (Image: Screenshot)

Tue, 25 Mar 2025

Now that NZME has finally released the full 11-page text of the letter to shareholders from James “Jim” Grenon, a much clearer view emerges of the Canadian expatriate who is leading what looks to be a successful boardroom coup.Grenon’s letter pulling apart NZME’s recent commercial performance appears to present a persuasive financial analysis that the NZME board will need to respond to in full and convincingly, if it is to turn the tide on a board shake-up. NZME – publisher of the NZ Herald and BusinessDesk &n...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Jim Grenon's NZME board takes shape

Investor's concessions to media firm could only extend to bringing CEO onto its board.

Rebecca Stevenson 10:00am

The Quiz Free

QuiznessDesk, Wednesday, March 26

Can you beat the Quizmaster?

The Quizmaster 9:15am

Property

Graeme Hart owed over failed housing venture

The billionaire put a caveat on a St Heliers property now up for mortgagee sale.

Maria Slade 5:00am

Graeme Hart owed over failed housing venture

Sponsored

“Extraordinary” uptake for Auckland’s new growth hub

63% of lots at Spedding Road precinct sold ahead of completion.

Spedding Road

Sponsored

Research shows AI-based attacks causing concern and senior leaders overestimating cybersecurity readiness

Research highlights from Datacom’s State of Cybersecurity Index show AI-based attacks are top of mind and senior leaders might be overestimating their organisations’ readiness to recover from cyber incidents.

Datacom