By Jonathan Milne on Newsroom…
Michael Stiassny is Winton Land’s third chair in two months; he speaks candidly about the challenge to restore confidence in the firm amid complaints about its founder Chris Meehan’s behaviour.
It was Winton founder Christopher Meehan who made the phone call this week: would Michael Stiassny consider joining the property development company’s board, as chair?
The NZX stock exchange regulator had suspended trading in the firm’s shares after a string of resignations by directors, concerned about Meehan refusing to relinquish control amid complaints of bullying and sexual harassment.
There were certain attributes the two factions on the decimated board were looking for. Stiassny is independent of both majority shareholders Chris and Michaela Meehan, and of the worried second shareholder, Australian investment firm Macquarie Group.
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