Mercury appoints new chair

Prue Flacks has been appointed by Mercury’s board to succeed Joan Withers as chair when Withers stands down at the energy company’s annual shareholders’ meeting on September 27.

Withers leaves after 10 years on the board of Mercury which is renowned for its electric vehicle support, especially its poster child electric 1957 Ford Fairlane ‘Evie’.

“It has been an enormous privilege to chair this company through such an important period of its evolution, and to be part of its successful transition from an SOE (state-owned enterprise) to the mixed ownership model,” she says.

“We have delivered growth in shareholder value for the Crown and our private shareholders, excellent propositions for our customers and mutually beneficial partnerships with our many stakeholders.”

Withers says Flacks will be “an outstanding leader of a well-balanced, experienced and focused board”.

“I am very confident it will continue to provide strong leadership and governance with the appointment of Prue as its new chair.”

Flacks was appointed to the Mercury NZ board (then Mighty River Power) in 2010 and chaired the due diligence committee at the time of the initial public offering in 2013. She is chair of Queenstown Airport, and a director of Chorus and BNZ.

“Prue has been a major contributor across various board functions, including chairing the people and performance committee,” Withers says.

“Her prior professional experience as one of New Zealand’s leading commercial lawyers has been enormously important to the company. Her knowledge of the business will help Mercury continue with the clear momentum it has established in doing the right thing for customers, their communities and the country.”

Flacks is delighted to be stepping into the position.

“Joan has been an outstanding leader and a champion of Mercury during her 10-year term as chair. Her legacy is significant. I am looking forward to working with the board, and with Fraser (Whineray) and his team, to ensure Mercury’s continued success as one of New Zealand’s leading energy companies.”

Mercury chief executive Fraser Whineray pays tribute to Withers’ contribution to the company’s growth and development through her tenure.

“As chair, Joan has overseen a tremendous amount of improvement and change at Mercury, traversing all facets of the business. This progress has benefited our customers, our people, New Zealand, the environment and investors alike.”

Flacks’ appointment has been approved by finance minister Grant Robertson.