Top Energy chooses Bain as board chairman

Murray Bain.

Murray Bain has been appointed chairman of the Top Energy Board.

Top Energy Consumer Trust chair Yvonne Sharp welcomed the appointment, saying Mr Bain brings a wealth of experience and knowledge from the public and private sectors in governance and senior management positions.

"I believe Mr Bain is an excellent choice to lead Top Energy and, as a Far North resident, he has a local perspective on the environment in which the company operates, and an appreciation of the exciting challenges and opportunities facing the electricity network."

He replaces Paul Byrnes who has been on the Top Energy board for nearly 20 years, the past 10 as chairman. Mr Byrnes will remain until the AGM in June.

Mr Bain holds a broad portfolio of governance roles, including chairman of the Open Polytechnic of NZ, deputy chair of TSB Bank and as a director of TSB Capital and CTAS - Central Region DHB's shared services company. He is standing down as a director of Powerco, the country's second largest electricity lines company.

Previously, he was an assistant governor of the NZ Reserve Bank, director of the Wellington Regional Economic Development Agency and ESR (Crown Research Institute) and CEO of the Foundation for Research Science and Technology and the Ministry of Science and Innovation.

Ms Sharpe says this is an interesting time for a change in leadership as the company focuses on growth of its core asset businesses with advance of the Ngawha geothermal generation development, the distribution and transmission lines and the core contracting services that support them.

Ms Sharp thanked Mr Byrnes for his valued contribution to Top Energy.

"I have thoroughly enjoyed my time working with Mr Byrnes and wish him all the best for the next set of challenges that he is embarking on."

Top Energy is fully owned by the Top Energy Consumer Trust which holds the shares on behalf of all Far North power consumers connected to Top Energy's lines network.