New Zealand Shareholders’ Association announces winner of 2022 Beacon Award

Date Released:  February 17th 2023

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The New Zealand Shareholders’ Association congratulates Mark Verbiest as the winner of the 2022 NZSA ‘Beacon’ Award, announced at an Awards ceremony held in Auckland this evening.

The Beacon Award is an annual celebration honouring one individual or team in the New Zealand business community who demonstrates leadership, bravery and respect while championing equitable outcomes, outstanding governance, and respecting the rights of all shareholders.

Mark Verbiest exemplifies a core principle underpinning NZSA – that quality governance leads to strong performance. NZSA Chair, Andrew Reding, noted that “Mark exemplifies best practice governance practices both within his own approach to governance quality and within the organisations he Chairs.”

NZSA notes that effective governance does not always reap immediate benefits. Nonetheless, NZSA notes that Mark’s development of an effective governance culture has resulted in strong shareholder returns that have endured into the long-term at the organisations where he is Chair.

Last year, the NZSA awarded the independent directors of Tilt Renewables, Fiona Oliver, Anne Urlwin, Phillip Strachan and Geoff Swiers, for their role as members of the Independent Directors Committee in advising minority shareholders to reject a Takeover Offer (via a Scheme of Arrangement) in 2018, that valued the company at $2.30 per share. Tilt was eventually purchased in 2021 for $8.10 per share.

About Mark Verbiest

Mark is a lawyer by training, who, after many years in private practice, then joined the senior executive team of Telecom NZ, being responsible for many groups, including Telecom International and Yellow Pages. He commenced his governance career post-2008 and has served on many boards.

Mark is currently chairman of Meridian Energy and Summerset Group Holdings. He recently retired as Chair of Freightways, and as a director of ANZ NZ. His previous governance roles included terms as Chair of Spark, Transpower and Willis Bond Capital.

He has been a long-term supporter of the NZ Shareholders Association.

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