23 April 2002

Statement from Syd Bradley, New Zealand Post Deputy Chairman

The letter I wrote to New Zealand Post Chairman Dr Ross Armstrong was tabled at the Board meeting on 19 September 2001.

At the same meeting, the New Zealand Post Board agreed to the Chief Executive's performance payment for the year ending 30 June 2001, and agreed to the renewal of the Chief Executive's employment contract, subject to agreement on terms being reached.

At its meeting on 21 December 2001, the Board was advised that the Chief Executive's employment contract had been successfully completed.

I support the decisions collectively made by the New Zealand Post Board regarding the Chief Executive's performance payment and the renewal of his employment contract.

The answers I have received in the time since I wrote the letter have provided me with a better understanding to the point where I am now satisfied that the issues I raised have been clarified and addressed -- a point I made clear at the meeting of the Finance and Expenditure Select Committee last Wednesday.

Ends

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