Kiwibank CEO resigns
(26 May 2010 – New Zealand) Sam Knowles has resigned from his position as chief executive officer of New Zealand-owned Kiwibank, however says his resignation has nothing to do with the government’s possible plans to sell the local bank.
Mr Knowles, who has been with the company for ten years, has said that the surprise resignation had ‘nothing to do with what the government is currently discussing’ adding that neither the board nor Brian Roche’s appointment as CEO of NZ Post contributed to the decision.
Mr Knowles went on to confirm in a press conference that he was in good health and had not received an offer from across the ditch; he also highlighted that he just wanted to ‘take a break and consider the future’.
Currently serving as a director or trustee of a number of organisations including Trust Power, Te Omanga Hospice and the St James Theatre Trust, Mr Knowles said he wants to decide on a new challenge.
Last week a hot debate began when the government signalled the possible sale of the New Zealand-owned bank when finance minister Bill English said that he thought local ‘Mum and Dad investors’ would be interested in buying shares in the bank if it was partially sold through a share float.
Prime Minister John Key has since said that the government has not made any decisions about changing its position on state-owned enterprises, and if it did, it would keep the electorate informed.
David Cunliffe, Labour finance spokesperson says Kiwibank must be retained in public ownership.
Kiwibank has played a major role in improving the competitiveness of the banking industry as far as Kiwis are concerned, Mr Cunliffe said.
The government needs to be encouraging locally-based sources of capital creation and banking, not selling off an asset that Kiwis have clearly shown they believe in, Mr Cunliffe noted.
Mr Knowles himself says their success in attracting 700,000 customers in a competitive environment is because they are a Kiwi bank with passionate customers who want a New Zealand-owned bank and even have some staff who would only work for a Kiwi bank.
Mr Knowles went on to confirm in a press conference that he was in good health and had not received an offer from across the ditch; he also highlighted that he just wanted to ‘take a break and consider the future’.
Currently serving as a director or trustee of a number of organisations including Trust Power, Te Omanga Hospice and the St James Theatre Trust, Mr Knowles said he wants to decide on a new challenge.
Last week a hot debate began when the government signalled the possible sale of the New Zealand-owned bank when finance minister Bill English said that he thought local ‘Mum and Dad investors’ would be interested in buying shares in the bank if it was partially sold through a share float.
Prime Minister John Key has since said that the government has not made any decisions about changing its position on state-owned enterprises, and if it did, it would keep the electorate informed.
David Cunliffe, Labour finance spokesperson says Kiwibank must be retained in public ownership.
Kiwibank has played a major role in improving the competitiveness of the banking industry as far as Kiwis are concerned, Mr Cunliffe said.
The government needs to be encouraging locally-based sources of capital creation and banking, not selling off an asset that Kiwis have clearly shown they believe in, Mr Cunliffe noted.
Mr Knowles himself says their success in attracting 700,000 customers in a competitive environment is because they are a Kiwi bank with passionate customers who want a New Zealand-owned bank and even have some staff who would only work for a Kiwi bank.
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