Hugh Fletcher, one of New Zealand’s leading industrialists, has been appointed as a non-executive director of the Reserve Bank for a term of five years.
Rod Carr, the deputy chief executive of the bank, had been appointed on the recommendation of the bank’s board to act as Governor for a period of up to six months or until a permanent appointment was made.
Carr has been acting as Governor since the resignation of Don Brash on April 26.
Fletcher replaces Sir Gil Simpson, whose term expires on June 8.
Other RBNZ non-executive directors are: Paul Baines; John Goulter; Arthur Grimes; Alison Paterson; Ruth Richardson; and Bill Wilson. Non-executive directors are paid fees of $15,000 a year.
