Changes on board of C.S.B.

Press, Volume CXIII, Issue 33241, 2 June 1973, Page 2

Changes on board of C.S.B.

Two Christchurch businessmen — one a National Party member and the other a former Citizens’ Association councillor—have not been reappointed to the Canterbury Savings Bank board of trustees. , They are the chairman of) the Canterbury-Westland di-j vision of the National Party i (Mr M. F. Hunter), and a deputy, mayor for two terms: until 1971 in the Citizens’ I council (Mr H. P. Smith). Their terms on the bank board expired this week, and they have been told by the Minister of Finance (Mr Rowling) that they will not be ) reappointed. i Mr Smith was a found-

lation member and guarantor lof the bank when it was (established in 1962. He has ibeen president of the bank lon three occasions and Ideputy-president twice. He is also treasurer of the ComImonwealth Games Organising Committee. Mr Hunter, who is chair[man of the finance committee for the Games and a vice- ) chairman of the organising Icommittee, was first appointed to the bank board three ) years ago. “NOT SURPRISED”

He said yesterday that he was not surprised that his term was not renewed. “But I am sorry I will not be able to continue my association with the board, particularly because* I was the youngest member of it," he said.

Mr Smith also expressed his regret he had not been reappointed, and said that he

had found the work reward-

ing. Asked the nature of the decision, he said: “The Minister has the right to do this.” It is expected that the Associate Minister of Finance (Mr Connelly) will announce his retirement from the bank

soon, creating a third vacancy on the 10-man board. WESTLAND BANK The president of the Westland Savings Bank (Mr C. G.‘ Moore) and the vice-president (Mr J. Preston) have both been asked by the Minister to relinquish their seats on the board of the bank. Both were the only members for reappointment this year. No replacement has been named for either man. RESERVE BANK Two members on the board of the Reserve Bank, and one member of the board of the Bank of New Zealand, have) not had their terms extended,

-.reports the Press Associ-

iation. Replacements on the board [of the Reserve Bank for Mr R. E. Gambrill, a lawyer, of Gisborne, and Mr D. C. Kirkpatrick, a chartered accountant, of Havelock North, have not yet been announced.

Mr G. A. Brown, of Palmerston North, has been appointed to the board of the Bank of New Zealand to replace Mr J. W. Clark, a farmer of Manutuke, near Gisborne. The Minister of Finance (Mr Rowling) said yesterday that there would be changes on these boards when members’ three-year terms expired. A third member of the board of the Reserve Bank [whose term had expired was I reappointed for another three, [years. He is Mr W. S. Otto, I the general manager of Breweries, Ltd.