Vector picks former Transpower man

With a sharemarket listing and grid upgrade looming, Auckland energy network company Vector has turned to an industry veteran for its latest appointment to the board.

The Business Herald understands that Bob Thomson, former chief executive of national grid operator Transpower, will soon be appointed to the board of Vector.

Thomson retired from Transpower in 2003, after 15 years in the top job.

He initially led the company through its establishment as part of the state-owned ECNZ and then as a state-owned enterprise.

His replacement as chief executive, Ralph Craven, said last year that work needed to start immediately on the ageing transmission grid.

Subsequently, Craven has been the target of heated abuse and community opposition for his plans to build a 400kV, $500 million line through the Waikato.

Effigies have been burned and Craven has been threatened.

Last week, Vector chief executive Mark Franklin told an energy summit there was a looming need for new investment in power lines throughout the country. Powerco chief executive Steven Boulton referred to a "wall of wire" - pressing work needed on local grids.

Thomson will also steer Vector through a busy corporate year.

Late last year, it bought two-thirds of gas pipelines company NGC and plans to partially privatise, with a $500 million initial public offering of shares and stock exchange listing.