|
|
This email was sent by Stats NZ, 8 Willis Street, Wellington, CBD 6011, New Zealand to nz@enz.mil-osi.com
|
Airways New Zealand today welcomed the appointment of Darin Cusack as the new Chair of the Airways Board and Danny Tuato’o as the new Deputy Chair, effective from 31 October 2025.
Darin is currently Deputy Chair of the Airways Board and brings extensive experience in aviation, transport and tourism. He has held chief executive and senior executive roles across airport, air navigation, aviation security and airline organisations throughout New Zealand and the Pacific region. Darin joined the Airways Board in April 2018 and will play a key role in guiding Airways as it continues to deliver safe, efficient, and sustainable air traffic management services for New Zealand.
As a result of Darin’s appointment, Danny Tuato’o will step into the Deputy Board position. Danny joined the Airways Board in July 2023 and brings strong legal, leadership and governance expertise.
New Board Chair Darin Cusack says: “I look forward to ensuring Airways continues to perform strongly by delivering safe, efficient and resilient air traffic services across our vast 30 million square kilometres of controlled airspace, while understanding and adapting to the diverse needs of those who use New Zealand’s airspace”.
Airways’ Chief Executive James Young says the appointment comes at a pivotal time for the air navigation services provider, as it looks to the future and prepares to meet the opportunities and challenges facing New Zealand’s aviation system.
“We congratulate both Darin and Danny on their respective appointments as Board Chair and Deputy Chair. The Board and Airways has benefited greatly from Darin’s broad aviation industry expertise and existing understanding of Airways, combined with Danny’s strong legal, governance and leadership experience.
“These skills, along with the continuity of having existing Board members appointed to these positions, will be invaluable as we build on the work already underway and continue delivering against our strategic priorities for building the future of New Zealand’s aviation system.”
The Board and Executive wish to acknowledge and thank Denise Church QSO for her outstanding leadership as Chair over the past seven years, including through the Covid-19 pandemic.
“Denise’s leadership during this period provided strength, clarity and stability at a time of unprecedented challenge,” Mr Young says. “Her steady guidance and focus on our people and strategic priorities have strengthened Airways’ foundations and ensured we are well positioned to deliver on our strategy for the future.”
“Under Denise’s stewardship, Airways undertook a significant reset of our strategy, reaffirming our commitment to our people, safety, innovation, and sustainability. This work has set a clear direction for the Airways and has set the company us up for long-term success in an evolving aviation landscape.
Denise Church QSO says: “It has been a privilege to serve as Chair of Airways. I am proud of the progress we have made together and confident that the organisation is well placed to continue delivering on its strategy and meeting the challenges ahead.”
In addition, Board member Mark Hutchinson will step down on 30 October at the conclusion of his term. The Board and Executive thank Mark for his strong contributions during his time on the Board, particularly regarding organisational culture and leadership.
Covering period of Wednesday 22nd – Thursday 23rd October
At 9:59am MetService escalated the Severe Weather Warnings in Canterbury, including Christchurch, Wellington, and South Wairarapa to Red Warnings for Damaging Winds in consultation with the respective regional councils.
All MetService warnings have the potential for impacts, but Red Warnings are reserved for the most extreme weather events where significant impact and disruption is expected.
The escalation to a Red Warning comes as impacts were already felt on Tuesday with the first of two significant weather systems anticipated this week, with Thursday looking more intense and more widespread.
MetService meteorologist Mmathapelo Makgabutlane says, “Thursday has a similar but stronger flavour. While some areas may have escaped the impacts earlier in the week, Thursday’s winds are expected to be more widespread and could affect places that don’t often see strong winds.”
These destructive winds can cause threat to life from flying items and falling trees, widespread damage including powerlines and roofs, with dangerous driving conditions and significant disruption to transport and power supply. Northwesterly wind speeds of 150 km/h are possible for exposed parts of Canterbury High Country, 140 km/h for Wellington and Wairarapa, and 130 km/h for the Canterbury Plains and Christchurch.
“The public are advised to take the opportunity today (Wednesday) to prepare for the significant and damaging winds on Thursday. Secure any loose items, make sure batteries are charged. Once it kicks off on Thursday, stay indoors or seek sturdy shelter away from trees. Avoid unnecessary travel. Be ready for power and communication outages,” Makgabutlane advises.
“A Red Warning signifies that people need to act now as immediate action is required to protect people, animals and property from the impact of the weather. People should also be prepared to follow the advice of official authorities and emergency services.”
This is the fourth round of Red Warnings MetService has issued this year, and it’s the 19th Red Warning weather event since the highest alert level was introduced back in May 2019.
It’s not just Canterbury and Wellington which are lined up for severe weather. Orange Strong Wind Warnings are in place for the rest of the South Island, including Marlborough and the Kaikōura Coast, which have a high chance of upgrade to Red. The West Coast Region, as well as Tasman and Nelson are under Yellow Watches.
Additionally, heavy rain spreads up the South Island, including places that were impacted on Tuesday. Orange Heavy Rain Warnings are in place for the ranges of Westland, the headwaters of the Canterbury and Otago lakes and rivers, as well as Fiordland. Further impacts such as slips, surface flooding, difficult driving conditions and travel disruptions are likely. This time around, the rain will move through quicker but will also be more intense and rivers are likely to respond faster than on Tuesday. Coastal Westland, Grey, Buller, Tasman, Nelson and the Nelson Lakes National Park are all under a Watch for Heavy Rain.
In the North Island, Orange Wind Warnings are in place for the remainder of Wairarapa and the Tararua District. Hawke’s Bay is under a Yellow Watch as northwest winds may approach severe gale on Thursday, along with the dry conditions and warm temperatures. The Tararua Range is also under an Orange Heavy Rain Warning. Details about all of these are illustrated in more detail on our webpage; https://www.metservice.com/warnings/home
Once Thursday is done, many people will be looking ahead to Labour Day weekend. For those traveling, be aware that Monday sees another potentially disruptive weather system which may impact travel.
Keep up to date with weather and warnings via metservice.com or our free MetService weather app.
MetService also now provides push notifications for Red Severe Weather Warnings via our app. More information can be found here about enabling them: https://about.metservice.com/nz-weather-app-push-notifications
The release of the Guardians’ Annual Report for the year ended 30 June 2025 is an opportunity to review the events of the past 12 months and to consider what we have done and continue to do to prepare for the years ahead.
Future focused is one of the Guardians’ enduring organisational values. During the past 12 months, we have put a lot of work into assessing our structures, our policies, and our processes to ensure they are appropriate for our current requirements and well-suited to the challenges and opportunities that will come our way as the Fund continues to grow.
Visible outcomes of this work include the appointment of Paula Steed as the Fund’s first Chief Operating Officer, and the appointment of two co-Chief Investment Officers, Brad Dunstan and Will Goodwin. In the Investment section of this year’s report, Brad and Will talk about the reasons behind this change and how they see it benefiting the Fund’s future growth and development.
It is a challenge to make the case for change in an organisation that is performing as well as the Guardians has been.
For the year to 30 June, the Fund generated a pre-tax return of 11.84 percent after costs, beating our two key benchmarks, the 90-Day Treasury bill rate (a proxy for the government’s cost of capital) and the return for the Reference Portfolio (a notional portfolio of passive investments suited to the Fund’s risk profile).
Over the past 20 years, the Fund has generated annualised returns of 9.92 percent per annum: in dollar terms, it has during that time earned $56.87 billion more than the return on 90-Day Treasury bills and $19.89 billion more than would have been generated by the Reference Portfolio.
These are excellent results, and the Fund continues to be recognised by many as one of the world’s best. However, the world of investing is constantly changing: we need to anticipate what is coming our way and be willing to adapt accordingly, rather than waiting and reacting to change after the fact.
Treasury currently forecasts that the Fund will double in size within the next 15 years: we need to ensure we can scale up our operations efficiently and effectively.
Focusing on the future is part and parcel of being a long-term investor, and essential if we are to properly meet our mandate.
Long-term sustainable investment also entails considering the impact of our activities on the environment and on society. A sustainable investment approach to managing the Fund aligns with our intergenerational mandate.
For the first time, this year’s Annual Report includes the value of our impact investments – at 30 June, they made up approximately 3.2 percent of assets under management, or $2.7 billion.
A lot of work has gone into developing the processes necessary for us to properly integrate impact investment across our opportunity set. As this work continues, we hope to grow the proportion of investments that satisfy our investment criteria and also deliver a positive, measurable, social or environmental impact.
More information on our approach to sustainable investment can be found in our 2025 Climate Change Report and 2025 Stewardship Report, both of which are now available on our website: https://www.nzsuperfund.nz/publications/annual-reports/
This has been my first full year as Guardians CEO. I am very proud to be part of this highly successful organisation and confident we remain focused on achieving our purpose, Sustainable investment delivering strong returns to all New Zealanders.
Jo Townsend
CEO, Guardians of New Zealand Superannuation
The Guardians' 2025 Annual Report, along with this year's Climate Change and Stewardship Reports, is available here: https://www.nzsuperfund.nz/publications/annual-reports/
Fonterra Co-operative Group Ltd has announced a NZD 75 million investment to expand butter production at its Clandeboye site in South Canterbury, as part of the next phase of strategic investments by the Co-op signalled in its FY25 Annual Results.
CEO Miles Hurrell says the Co-op plans to invest up to $1 billion over the next three to four years in projects that will generate further value for farmers and drive operational cost efficiencies.
“We’ve said that through focused execution of strategy we are targeting our earnings to be back at FY25 levels by FY28 if the Mainland Group business is divested.
“This investment supports that goal by increasing our production of a high-value product and improving our product mix by adding value to milkfat,” says Mr Hurrell.
The investment will enable construction of a new butter line at Clandeboye, expanding the site’s current butter production capacity by up to 50,000 MT per annum.
The new butter line at Clandeboye will expand the Co-op's capacity to produce a range of butter formats, tailored for both global ingredients customers and professional kitchens.
The plant will be capable of producing products that meet diverse market requirements, including Halal and Kosher certifications, supporting our growth in key international markets.
Mr Hurrell says global demand for butter continues to grow, and this investment positions Fonterra to better serve customers worldwide.
Fonterra Chief Operating Officer Anna Palairet says the expansion of the Clandeboye site strengthens Fonterra’s network in the South Island by improving flexibility and resilience.
“This investment is part of Fonterra’s broader strategic asset roadmap supporting long-term growth in high-value dairy categories. The expansion will create 16 new jobs at the site, supporting the local economy,” says Ms Palairet.
Construction at the Clandeboye site starts in December 2025, with commissioning scheduled for early 2027 and first product expected off the line in April 2027.
This is Fonterra’s third investment in the South Island in the past year, following:
$75 million investment in an advanced protein hub at Studholme to be sold through our Ingredients business, catering to the fast-growing high protein market for medical and sports nutrition. Construction is expected to be complete in early 2026.
$150 million investment in a new UHT cream plant at Edendale to unlock additional capacity for high value product sold through our Foodservice business. Construction is expected to be complete in the second half of 2026.
Fonterra has recently invested $64 million at Clandeboye for the conversion of two coal boilers to wood pellets, a crucial step in Fonterra's commitment to exit coal by 2037. The conversion was completed in August 2025.
About lactic and unsalted butters:
Traditional churned lactic butter is a European-style product made using a high-speed version of traditional hand-churning. Known for its rich, tangy flavour and dense, creamery texture, lactic butter is ideal for premium applications. Popular in Middle Eastern cuisine as well as western and local bakery products, Fonterra sells lactic butter direct to customers under its Ingredients brand, NZMP.
The unsalted butter produced at the Clandeboye site will be used for both Ingredients and Foodservice customers. Unsalted butter is a popular choice in products such as croissants, danishes, bread, cakes and cookies, and is increasingly used in traditional Chinese pastries. Fonterra sells unsalted butter direct to customers under its Ingredients brand, NZMP, and Foodservice brand, Anchor Food Professionals.
About Fonterra
Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer, foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together.