New Acting CE For Pacific Business Trust

MONDAY 14 FEBRUARY 2005

NEW ACTING CHIEF EXECUTIVE FOR PACIFIC BUSINESS TRUST

An Acting Chief Executive has been appointed to the Pacific Business Trust for the next four months by the Trust's Board.

Pacific Business Trust (PBT) Chair Pauline Winter says Inoke Vala, the current Business Development Manager, will function as Acting Chief Executive. This follows former CE, Jim Mather's, departure last week to head Maori Television. As Business Development Manager, Inoke is responsible for managing the expanded PBT Business Advisor network in Auckland, Wellington and Christchurch.

"For the next four months Inoke will also oversee the Trust's strategic direction and work closely with the board to ensure a smooth transition," says Ms Winter. "An important aspect during this period will be the management of the staff and other PBT resources."

Ms Winter says Inoke was chosen to be interim Chief Executive because of his proven track record with the Trust, knowledge of the Pacific business community and commitment to helping them succeed.

Vala holds a political studies degree from Auckland University and worked for the Tonga Development Bank in Tonga for 10 years. He has just completed Level 2 of his Henley MBA degree and has one more year to go before completing it.

He says he is looking forward to building on the work done by Jim Mather and the Board.

"They have fostered a positive, forward looking and passionate working culture within the organisation," says Vala. "A very important part of my role is to ensure that this culture continues and flourishes."

"I think the greatest asset that Jim brought with him to PBT was his leadership and strategic thinking. He not only led the team by example but also positioned PBT strategically to gain credibility and acceptance. We have become a worthy partner to other business development organisation and important stakeholders."

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