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Quigley replaces Carr at RBNZ board

NZ Newswire logoNZ Newswire 26/09/2016 Sophie Boot

<span style="font-size:13px;">Neil Quigley has been named as Rodd Carr's replacement as chair of the Reserve Bank's board of directors.</span> © Mark Coote/Bloomberg Neil Quigley has been named as Rodd Carr's replacement as chair of the Reserve Bank's board of directors. Neil Quigley has been elected chair of the Reserve Bank's board of directors, replacing Rod Carr who is leaving early.

Carr's term was set to end next July, but he advised the board he would not seek re-election, so stood down, with Quigley's term as chair officially beginning last Friday, the board said in a statement.

Carr is a former deputy governor and acting governor of the Reserve Bank, and has been involved in its governance for 10 years.

Directors are appointed by the Minister of Finance for five-year renewable terms, and elect their own chair for one-year terms. The chair appoints a deputy chair for one-year term. The board monitors the governor and central bank's performance and reports.

Quigley is vice-chancellor of the University of Waikato, and has previously worked at Victoria University of Wellington as senior manager and economics professor, and Canada's University of Western Ontario. He has been a member of the board since 2010.

Kerrin Vautier has been appointed deputy chair, having also been on the board since 2010. Vautier is a consulting research economist and a lay member of the High Court.

"Rod has provided over a decade of invaluable service to the bank, spanning key management and governance roles," governor Graeme Wheeler said.

"He has been an outstanding chairman and the bank has benefited greatly from his intellectual rigour and sound advice and judgement."

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