Under-fire NZ Automotive Investments loses confidence of financier

Three of NZ Automotive Investments' directors stepped down last month after their relationship with fellow director and major shareholder David Sena broke down. (Image: NZAI)

Riley Kennedy

Tue, 09 Aug 2022

NZX-listed NZ Automotive Investments (NZAI) has lost the confidence of its financier following its recent boardroom drama.Last month, three independent directors of the car sales and auto finance company’s board resigned following a breakdown in the relationship between them and fellow director and major shareholder, David Sena.The stock exchange’s watchdog, NZ RegCo, asked the company last week to explain by the end of business on Monday how it was complying with the rule of having at least two independent directors on its board.In...

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