9(2)(a)
Dear 9(2)(a)
Invest New Zealand: Letter of appointment
I am very pleased to confirm your appointment as a director of the Invest New Zealand
Board (Invest NZ). This appointment is for a six-month term commencing on 27 June 2025
and expiring on 24 December 2025. A notice of your appointment wil be published in the
New Zealand Gazette shortly.
While you wil receive my Letter of Expectations in due course, when you take up the role of
Director, it is my expectation that you and other directors – both individually and collectively
immediately prioritise the development of a plan for the organisation that wil include:
Preparation of an investor engagement strategy, including what markets or sectors
the new organisation might focus on.
Appointment of a permanent Chief Executive and using expertise and connections to
identify permanent members of the Board.
Development of a workforce strategy to ensure that people with appropriate skil s and
capability are in place to deliver results.
Development and implementation of an appropriate structure and operating model for
the organisation, including a performance framework that wil enable Invest NZ to
begin to demonstrate its impact.
I expect that you wil alert the Chair and the Ministry of Business, Innovation and
Employment (MBIE) if any issues arise.
Legislative Framework
Your appointment has been made pursuant to the Invest New Zealand Act 2025 and the
Crown Entities Act 2004.
The Crown Entities Act 2004 mandates the requirements for preparing the accountability
documents of Crown entities. This includes the respective roles of the responsible Minister
and the Board.
I wil be asking that the Board please arrange for Invest NZ to prepare a draft Statement of
Intent as wel as a draft Statement of Performance Expectations. I expect that you wil work
with my officials at MBIE as you develop these documents.
MBIE is the monitoring department that wil support me in my role as responsible Minister, in
line with the requirements of the Crown Entities Act 2004. Further information on monitoring
arrangements can be found in the document,
Monitoring arrangements for MBIE-monitored
Crown entities1
. You are subject to the col ective and individual duties of members as stated in the Crown
Entities Act 2004. Broadly the collective duties of Board members are to ensure the entity
acts consistently with its objectives, functions, current Statement of Intent and current
Statement of Performance Expectations. Further, members have responsibility for ensuring
that the Board's functions are performed efficiently, effectively and consistently in the spirit of
the public service, and in a financial y responsible manner.
The individual duties of Board members are:
to comply with both the Invest New Zealand Act 2025 and the Crown Entities Act
2004;
to act with honesty and integrity;
to act in good faith and not at the expense of the entity's interests;
to act with reasonable care, due diligence and skil , and;
not to disclose or make use of information that would otherwise not be available to
you.
Term of office
Section 32(3) of the Crown Entities Act 2004 relates to the term of office of members of a
statutory entity. Under this section you continue as a member despite the expiry of your term
until you are reappointed, your successor is appointed, or you are informed in writing that
you are not to be reappointed and that no successor is to be appointed at that time.
Resignation
Section 44 of the Crown Entities Act, a member may resign from office by written notice to
the Minister (with a copy to the entity) signed by the member.
Removal
Under section 37(1) of the Crown Entities Act, the Minister may, at any time and for any
reason that in the Minister’s opinion justifies the removal, remove a member of an
autonomous Crown entity from office, by written notice to the member. The notice must state
the date on which the removal takes effect, which must not be earlier than the date on which
the notice is received and state the reasons for the removal.
Disclosure of interests
In accordance with the disclosure of interest rules under sections 62–72 of the Crown
Entities Act, I encourage you to continual y disclose your interests in matters relating to the
Council to ensure that any perceived, potential or actual conflicts are managed
appropriately.
Remuneration
Fees for Invest New Zealand are set in accordance with the Cabinet Fees Framework. The
current annual fee for a member of Invest New Zealand is $50,000.
Acceptance of the Appointment
I ask that you confirm, by written notice, your acceptance of the provisions of appointment
contained in this letter as soon as possible. I would be grateful if you could formal y
acknowledge your appointment by signing the attached letter and returning it to MBIE
([email address]), who wil record it on my behalf.
1 https://www.mbie.govt.nz/assets/monitoring-arrangements-for-mbie-monitored-crown-entities.pdf
I congratulate you on your appointment and I look forward to your valuable contribution.
Warm regards
Hon Todd McClay
Minister for Trade and Investment
cc
Board Appointment and Governance, Ministry of Business, Innovation and Employment
[email address]
Acknowledgement of appointment
Hon Todd McClay, Minister for Trade and Investment
Parliament Buildings
Wel ington
C/- [email address]
Dear Minister
I acknowledge receipt of your letter appointing me as a director of the Invest New Zealand
Board for a six-month term commencing on 27 June 2025 and expiring on 24 December
2025.
I accept that I wil hold office at the pleasure of the Minister and that I may be removed at
any time, and for any reason, by written notice.
I wil ensure that I keep myself aware of the obligations and responsibilities of the position.
I undertake to advise you, via the Ministry of Business, Innovation and Employment, of
any change in circumstances that may have an impact on my ability to continue to serve
on the Invest New Zealand Board.
Yours sincerely
Name: 9(2)(a)
Date:
