New shareholders head vows to build on proud legacy

John Hawkins (pictured) says Bruce Sheppard leaves big shoes to fill. Photo / Dean Purcell

Companies doing the right thing by their shareholders have nothing to fear from the Shareholders Association, says new chairman John Hawkins.

Hawkins will take over from Bruce Sheppard on July 29 at the end of the association's conference and annual meeting.

Sheppard has been chairman of the association for nine years and became one of the most colourful and recognisable faces in the business community, representing shareholders and grilling company directors at annual meetings.

A good number of companies talked to the association, which had nearly 1100 members nationwide, Hawkins said.

"I don't think you should expect dramatic changes, there might be changes in emphasis in some areas," Hawkins said.

"I think the fact that we have made tremendous progress over the last 12 months and we are being listened to and asked for our opinion on a regular basis augurs well for the future and for the future of retail shareholders, who have been very poorly represented at the upper echelons of the decision making in the past.

"We are grateful to [Commerce Minister] Simon Power for recognising that our voice deserves to be heard."

Sheppard said the decision should not come as a surprise.

"We expect companies to refresh their boards regularly, and we practice what we preach," he said.

"While there had been a succession process in place for some time, my recent appointment to the [Financial Markets Authority] Establishment Board has brought the announcement forward."

Sheppard said that to avoid any perceived conflict of interest with his new role he would in the meantime also step aside from the association's board.

Hawkins, who last week resigned as chairman of the Auckland branch of the association, said: "Sheppard's vision, depth of knowledge and willingness to tackle issues had resulted in significant benefits for all the investing public.

"These are big shoes to fill and it is both an honour and a privilege that the board has selected me for this position."

The Shareholders Association would not lose sight of its core functions, he said.

"That is to protect the interests of retail shareholders, to deal with things in an ethical manner, to hold boards to accountability and that type of thing," he said.

"There may be some more media presence by some of the other board members rather than leaving a lot of it to one spokesperson."

The association had been strongly involved in accelerating the Financial Markets Authority, had written a paper and consulted a number of times with the Government, Hawkins said.

The association had a direct hand in the appointment this week of new Telecom independent director Sue Sheldon, he said.

Telecom chairman Wayne Boyd said he had met Hawkins several times during the past couple of years and the association had made an excellent choice in his appointment as chairman.

JOHN HAWKINS

New chairman of the Shareholders Association

Age: 57
Born: New Plymouth
Home: Auckland
Family: Married with two children
Education: Auckland University, qualified optometrist.
Career: Optometrist for about 10 years; set up and ran a manufacturing business for about 25 years from 1979 until its sale; contract and consulting work; managing investments for family interests; chairman of the Auckland branch of the Shareholders Association.