Vector chair Michael Stiassny won't seek re-election after losing Entrust support

Wed, 09 May 2018

By Paul McBeth May 9 (BusinessDesk) - Vector chair Michael Stiassny says he won't seek re-election at this year's annual meeting because he no longer has the support of controlling shareholder Entrust Trustees, which owns 75.1 percent of Vector and represents its electricity network customers. Stiassny has been on the board since 2002, chairing the Auckland lines company through its merger with UnitedNetworks and its $593 million initial public offering in 2005, when it sold a 25 percent stake. He issued a statement today in response to...

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