New head appointed for 1990 Games

Press, 9 November 1988, Page 36

New head appointed for 1990 Games

PA Wellington An Auckland businessman, Mr David Johnson, has been appointed chairman of the 1990 Auckland Commonwealth Games Company, after the resignation of the former chairman, Sir Earl Richardson, on medical advice. Mr Johnson, who has chaired the Games’ marketing and finance committee and had a big influence on the structures of the Games’ financial management and systems, was appointed to the board last January. Mr Johnson said that with just over a year until the Games, he would continue Sir Earl’s style of close contact with the day-to-day affairs of the Games. “We are running a major commercial exercise which needs to be handled very professionally. Millions of dollars have been invested with

us so far, and more will be invested in the future on the basis that we are creating the greatest sporting and promotional event seen in this country this century. “We have to deliver that, not only to New Zealand but to a worldwide audience. Mr Johnson is one of the most widely experienced financiers in the country and has the reputation of being one of the pioneers of the modern financial markets in New Zealand. By a variety of developments, he was instrumental in the formation of Broadbank and in pioneering the commercial bill market in this country. He was also among those leaders who saw New Zealand’s financial market interests expand into Australia. He is a director of several companies including the publicly listed

First City Corporation, Ltd. Sir Earl, in resigning, has called for Government and community support for the Games in the next 14 months. Sir Earl resigned the chairmanship on his doctors’ advice after he had surgery on both legs and was then in hospital with pneumonia. Sir Earl said he had resigned with regret, but was satisfied he had fulfilled his original objectives as chairman — to build a strong business representation on the board of the Games company and to get the issue of venue funding settled. He said he was staying on as an ordinary director.