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Forbar drops Winton to neutral as Meehan takes leave
Brent Melville
Fri, 26 Jun 2026
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Fri 26 Jun 2026 04:53:00pm
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Fri 26 Jun 2026 04:53:00pm
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Steel & Tube independent director to depart
Steel & Tube independent director Steve Reindler will not seek re-election at the conclusion of his three-year term.
Reindler has been on the board since 2017 and will conclude his time at the company at its annual meeting, which is expected to be held in November.
In a statement to the stock exchange, Reindler said it was time to allow “new thinking and refreshment” of the board.
The board thanked him for his contribution to the company during his nine-year tenure.
It said an extensive search is underway for a replacement, hinting that it could be more than one director.
Steel & Tube’s shares are down 46% in the year to date, as the weak activity in the construction activity has been compounded by rising levels of debt.
Fonterra appoints former CFO as director
Fonterra has announced the appointment of its former chief financial officer Jonathan Mason as an independent director, with effect from October 1.
Mason served as the dairy co-op’s CFO from 2009 to 2013 and his subsequent governance roles included chair of Vector and directorships at Westpac and Air New Zealand.
Fonterra chair Peter McBride said Mason had a strong understanding of Fonterra’s co-operative model and its stakeholders.
“Jonathan has the unique combination of previous management experience at Fonterra and a long tenure of financial leadership and governance both in New Zealand and in the United States,” he said.
Mason, whose appointment must be ratified at Fonterra’s annual meeting in November, will replace retiring director Bruce Hassall, who completes his nine-year term in September.
Skellerup director Cushing sells one million shares
Skellerup director David Cushing, of the NBR Rich List Cushing family, has offloaded $6.5m worth of shares in the NZX-listed industrial products company.
A note to the stock exchange yesterday showed interests associated with Cushing sold one million shares between June 19 and June 23 at an average price of $6.55 a share.
He retains 6 million shares in the company, or a 3% stake.Skellerup's shares are up close to 25% in the year to date.
Last month, interests associated with Cushing inherited 200,015 shares in the company from his late father’s estate, which he sold for $1.18m, or an average of $5.90 a share.
Sir Selwyn Cushing died in February, aged 89.
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Fri 26 Jun 2026 04:51:59pm
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