Invitation to Participate in Director Appointment Process Survey

Following on from our iwi wānanga session in March on the design of new director appointment process options for Te Ohu Kai Moana Trustee Limited (TOKMTL) and Aotearoa Fisheries Limited (AFL), we now wish to invite representatives from Mandated and Recognised Iwi Organisations, Asset Holding Companies and Representative Māori Organisations to complete a short survey to help further inform both design processes.

There are two parts to this survey; with the first dedicated to the director appointment process for TOKMTL, and the second dedicated to the director appointment process for AFL. The survey has been designed in such a way that if you were unable to attend our wānanga in March, you should still be able to complete it. However, we do acknowledge that the content is quite specific and technical in places, so we have included a copy of the presentation from the day of the wānanga to reference if needed while completing the survey.

We are currently planning to facilitate two further wānanga with Mandated Iwi Organisations (MIO), Recognised Iwi Organisations (RIO), Asset Holding Companies (AHC) and Representative Māori Organisations (RMO) in June and August, where the findings of this survey will be used to assist in refining the appointment processes. It is our intention to finalise both appointment processes by December of 2025, so that each can be approved in February of 2026.

The survey is a mix of quantitative and qualitative questions which we estimate to take approximately 10 minutes to complete. Due to the nature of the appointment processes, we recommend it is completed by directors and chief executives (or general manager equivalents) of MIO, RIO, AHC and RMO. To go into the draw to win 1 of 4 $200 Prezzy Cards, you have the option to enter your email address on the final page of the survey.

Representatives have been sent a link to the survey directly via email. If you have not received a link to the survey, please contact our Programme Director, Tania Heyrick via email at: tania.heyrick@teohukaimoana.nz

Background to the process and survey

The Māori Fisheries Amendment Act 2024 (MFAA) shifts responsibility for appointing directors to the board of TOKMTL from Te Kāwai Taumata directly to iwi on a 1-vote-per MIO, RIO and RMO basis. Under the MFAA, responsibility for appointing directors to the AFL board shifts from TOKMTL to AHC who will vote based on shareholding in accordance with the directions of the relevant MIO.

Accordingly, new director appointment processes must be designed for both TOKMTL and AFL to reflect the changes required by the MFAA. TOKMTL directors are responsible for approving the new appointments process for TOKMTL as joint shareholders. The board of TOKMTL is also responsible for approving the new appointments process for AFL as the sole voting shareholder. However, the new appointments processes for each entity will be designed in engagement with MIO/RIO, RMO and AHC.

It is relevant to think about the differing the nature of AFL and TOKMTL while designing the appointment processes for each. AFL has a duty to manage its assets in a commercial manner, using best endeavors to work cooperatively with iwi. TOKMTL’s purpose is to advance interests of iwi in fishing and fisheries, furthering the agreements made in the Deed of Settlement, and other matters such as advocacy, innovation and research.

These differences indicate that while the key appointment process principles should be similar, it may also be appropriate to take a different approach to some aspect of the appointments process for each entity.

Chapman Tripp summary paper and wānanga presentation

At the wānanga, we also introduced iwi to Graeme Olding and Josh Blackmore. Both are partners at Chapman Tripp, and have provided advisory support to Te Ohu Kaimoana in matters related to the Māori Fisheries Amendment Act 2024. The session was a Q&A style discussion, with the purpose that it would inform a broader tax and governance related workstream that we are undertaking to ensure iwi are well supported ahead of the transfer of the remaining Aotearoa Fisheries Limited (trading as Moana New Zealand) shares. This transfer is expected to occur in July 2026.

We appreciate those who participated in the discussion on the day and provided questions and considerations to Graeme and Josh.

At that hui we informed iwi that we would circulate a copy of the PowerPoint presentation alongside a summary paper to assist readers understanding of the presentation. You can now access the presentation and summary paper here. We encourage you to get in touch with our General Counsel, Brianna Boxall, brianna.boxall@teohukaimoana.nz in the first instance if you have any questions or feedback.