Silver Fern Farms’ Rob Hewett wins Chairperson of the year at Deloitte Top 200 awards (NZ Herald)

Silver Fern Farms’ Rob Hewett wins Chairperson of the year at Deloitte Top 200 awards (NZ Herald)

Rob Hewett, a prominent figure in New Zealand’s agribusiness sector, has been honoured as the 2023 Chairperson of the Year at the Deloitte Top 200 awards, celebrating his impressive leadership roles and the business success he has overseen.

Hewett is co-chair of Silver Fern Farms, a leading producer and global marketer of grass-fed red meat, owned in equal partnership by Silver Fern Farms Co-operative (a farmer co-operative that he also chairs) and Shanghai Maling Aquarius.

He is also chair of Farmlands Cooperative, Pioneer Energy, Woolworks, Fern Energy and Haulage.

Hewett has directorships at Pulse Energy and T&G Global.

Additionally, he actively manages a carbon-positive farm and participates in a think-tank for agricultural innovation.

Xero, Tourism Holdings, Grant Webster, Sir Richard Taylor, NZME among Deloitte Top 200 winners (NZ Herald)

Xero, Tourism Holdings, Grant Webster, Sir Richard Taylor, NZME among Deloitte Top 200 winners (NZ Herald)

Cloud accounting heavyweight Xero has been recognised as the Company of the Year in the 2023 Deloitte Top 200 Awards for its transformative year marked by significant milestones.

Winners in the prestigious Deloitte Top 200 Awards were revealed tonight at Auckland’s Viaduct Events Centre. Now in its 34th year, the highly anticipated black-tie dinner event saw close to 900 business leaders gather to celebrate the best of New Zealand business.

This year, the awards recognise outstanding agility, resilience and results despite the pressures that business leaders have faced. Notably, they have navigated through the persistent cost-of-living crisis, inflationary pressures, geopolitical complexities, global unrest, and the severe weather events earlier this year.

After a difficult year in 2022, Xero completed a significant restructuring and saw strong revenue, subscriber, and share price growth. Founder Rod Drury formally stepped down from the board of directors after 17 years, and Sukhinder Singh Cassidy has taken on the role of chief executive.

Last month, Xero delivered a strong bottom-line result for the half-year to September 30, reporting a revenue rise of 21 per cent to $799.5 million and net profit increasing to $54.1m, compared to a net loss of $16.1m in the first half of the previous financial year.

The panel of high-profile judges, convened by NZME business editorial director Fran O’Sullivan, note Xero’s outstanding performance.

“Xero is an extraordinary Australasian success story and our leading high-tech success unicorn. Its current market capitalisation of over $15 billion makes it the most valuable NZ company, and one of the top 20 companies on the ASX,” they say.

“Xero has maintained strong margins and is keeping a disciplined focus on costs. This resulted in adjusted Ebitda up by 44 per cent in 2023 over 2022 and a share uplift of 44 per cent for the year ended September 30, 2023.”

Grant Webster, CEO of Tourism Holdings, was named Chief Executive Officer of the Year for his exceptional resilience and strategic prowess, particularly during the Covid-19 pandemic.

His leadership was crucial in navigating the world’s largest campervan rental company through a drastic downturn in international travel. By selling assets to protect shareholder value, he achieved record results, showcasing his ability to make tough yet effective decisions.

“Webster’s 15-year tenure as CEO has been defined by steering the company through major crises and positioning Tourism Holdings for future growth,” say the judges. “Tourism Holdings’ strategic expansion, combined with Webster’s adept relationship-building, spurred a remarkable financial recovery: turning a $2.1m loss into a $49.9m profit and a 92 per cent increase in revenue.”

“His legacy is that of a transformative leader who successfully converted challenges into opportunities for innovation and growth.”

The Visionary Leader award is the only one given without finalists. This year, the award went to the creative duo behind Wētā Workshop, Sir Richard Taylor and Tania Rodger. Renowned for their award-winning work on blockbuster films, their influence extends to tourist attractions, a digital game studio, and cultural collaborations in China.

“Sir Richard and Tania’s passion and creativity has brought imaginations to life, inspired millions, and put New Zealand’s creative industry on the world map,” say the judges. “They are New Zealand icons and true visionary leaders.”

Chairperson of the Year has been awarded to Rob Hewett. A prominent figure in New Zealand’s agribusiness sector, Hewett is co-chair of grass-fed red meat producer and marketer Silver Fern Farms and chair of Silver Fern Farms Co-operative. He is also chair of Farmlands Cooperative, Pioneer Energy, Woolworks, Fern Energy and Haulage and has directorships at Pulse Energy and T&G Global.

“Hewett has a very clear vision for the businesses he chairs, he communicates that well and maintains solid relationships with his managing directors,” the judges say.

They recognise that last year was a banner year for Silver Fern Farms and applaud Hewett for playing a significant role in its result, which saw a net profit after tax of $189.3m, representing an 82 per cent increase.

Xero’s chief financial officer, Kirsty Godfrey-Billy, was also recognised last night, taking out the award for Chief Financial Officer of the Year.

The judges say that during Godfrey-Billy’s five years as CFO, Xero New Zealand’s revenue has increased from about $550m to $1.4b – up 250 per cent.

“Godfrey-Billy is respected by the market, board, management and other stakeholders for her financial management over this period of growth, which includes developing and maintaining financing and tax management in multiple countries,” they say.

“During her time as CFO, the company has moved from a start-up approach in which revenue is paramount, to a more mature company, where revenue and profit growth are both important.”

Port of Auckland has been named winner of the Most Improved Performance award, for its remarkable turnaround in profitability and operations.

“By establishing effective strategies, the port has improved its financials, union relationships, health and safety practices, and operational performance,” the judges say. “Its profits and revenue have skyrocketed – with profit up $50.7m on last year and revenue increasing from $265.3m to $320.2m. The port has nearly doubled the dividend it pays to Auckland Council, which really demonstrates its commitment to delivering returns to shareholders.”

Natural health products provider Comvita has been recognised with the Best Growth Strategy award. The judges say its recent transformation programme, focused on sustainability and storytelling, has helped consumers connect with the brand, and secured rapid growth for the company.

“Comvita has seen strong business performance in China, its key growth market, where it has grown its revenue to $100m. It has also increased its e-commerce share of total sales from 23 per cent to 42 per cent.”

Penny Dell, Treasurer at ANZ, has been named Young Executive of the Year. She is the youngest and first woman to hold the role of Treasurer which involves the management of the funding, capital and liquidity of the bank’s $189b balance sheet – a critical, strategic position for New Zealand’s largest bank.

The judges say Dell is performing at a high level within a very large organisation: “She holds a position of great responsibility within the ANZ organisation and is clearly recognised as a valuable asset”.

Her time in the job has been through a period of significant market volatility. Dell has been responsible for completing many successful funding and capital transactions that have given her bank a competitive advantage.

Deloitte Top 200: Contact Energy wins Sustainability Leadership Award (NZ Herald)

Deloitte Top 200: Contact Energy wins Sustainability Leadership Award (NZ Herald)

Contact is dedicated to playing its role in creating a more sustainable future for New Zealand by leading the country’s decarbonisation efforts, and is making significant progress to achieving net-zero carbon by 2030.

This long-standing commitment to sustainability from the gentailer, coupled with the actions it has made, made it a stand-out winner for the Deloitte Top 200 Sustainability Leadership Award. The award recognises exemplary governance, leadership, accountability and long-term perspectives from companies as they evolve and adapt their business models to support and drive sustainable development.

The Deloitte Top 200 judges commended Contact for its significant efforts to decommission assets that generate electricity from fossil fuels, signifying a clear shift towards renewable energy sources and a clear intent to help decarbonise New Zealand, despite the absence of an overarching national energy strategy.

“We are impressed that Contact’s efforts in the space are driven and supported by leadership and filter across the national business. They have created a galvanising framework for decarbonisation that attracts diverse talent and genuine innovations for sustainability actions,” said Katie Beith, one of the judges in this award category.

Contact is actively investing in the future of sustainable energy with $1.2 billion in renewable generation currently under construction. This pipeline of projects includes geothermal, solar, wind and grid-scale batteries, which will see it not only reduce its carbon profile but also assist its customers in their decarbonisation efforts.

Contact chief executive Mike Fuge is enthusiastic about what this means for the future of New Zealand. “These investments are key to enabling Aotearoa New Zealand to meet its decarbonisation goals,” he says.

“We expect our generation portfolio to be more than 95 per cent renewable by FY27 and have set the ambitious goal to achieve net-zero emissions from our generation operations by 2035.”

Contact’s efforts have already boosted its renewable energy capacity to more than 80 per cent and led to a remarkable 33 per cent reduction in greenhouse gas emissions from generation since 2018.

Its world-class geothermal development near Taupō, Tauhara, will come on-stream in 2024.

It will be Contact’s sixth geothermal power station in the Taupō area.

Contact now has a pipeline of projects ahead of it in Taupō, including an expansion of its Te Huka geothermal plant and a replacement of the 1950s-era Wairākei geothermal power station.

“The wonderful thing about having a pipeline of projects around Tauhara is we can attract the workforce in for a project, and they get the opportunity to roll off on to the next project,” says Fuge.

The judges say a particularly commendable aspect of Contact’s sustainability efforts is its commitment to meaningful engagement with iwi and hapū, especially at the Tauhara plant, which shows a deep respect for indigenous involvement in sustainable energy projects.

In addition to its geothermal projects, Contact is pursuing other renewable energy projects, including a solar project at Christchurch Airport which will have around 300,000 solar panels on 300 hectares of land adjacent to the airport’s runways.

It is looking to develop a wind farm on the elevated land east of Wyndham in Southland.

This would be Contact’s first wind farm project and, with a plan for about 55 turbines generating as much as 300 megawatts of power, it would be New Zealand’s largest.

US Business Summit 2023: How Brand NZ shows up in the USA and how we can build our value

HOW BRAND NZ SHOWS UP IN THE USA AND HOW WE CAN BUILD OUR VALUE

David Downs, CEO of the New Zealand Story, an ambitious organisation marketing New Zealand to the world presented insights from the latest U.S. research.

Moderator: Tim McCready

United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Prize draw

PRIZE DRAW

Prize draw: Two return business class flights to New York City courtesy of Air New Zealand and a selection of meats from Silver Fern Farms.

Auckland Business Chamber event director Katy Riddell with Air New Zealand senior manager Mark Kennedy.

United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Summit close

Tim McCready, Summit MC closes the 2023 US Business Summit. — United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

US Business Summit 2023: Summit Summary

SUMMIT SUMMARY

Summit co-chairs Fran O’Sullivan and Simon Bridges summarise the United States Business Summit with Summit MC Tim McCready.

United States Business Summit 2023 30 November 2023 at Cordis, Auckland. Brought to you by NZ INC. and Auckland Business Chamber.

Sustainability: Is it at risk of becoming a fair-weather friend?

Sustainability: Is it at risk of becoming a fair-weather friend?

It was only 10 months ago that New Zealand suffered two of its most costly weather-related disasters.

The Auckland Anniversary floods and Cyclone Gabrielle resulted in insurance claims of more than $2 billion. Climate change was a top concern of the nation. Ipsos’ New Zealand Issues Monitor ranked it the fifth-most-significant concern for New Zealanders in February and May 2023.

But you just have to look to the recent election to see how much has changed since then.

Climate change was barely mentioned on the campaign trail or during the debates by the two candidates vying to be Prime Minister.

By August, the Ipsos survey saw climate change slip out of the top five concerns for New Zealanders and making way for worries about the cost of living, crime, housing, healthcare and the economy.

Taumata Rau Conversation pushes cybersecurity up the agenda (University of Auckland)

Cybersecurity concerns aired in a Taumata Rau Conversation add to the discussion New Zealand needs on national security issues.

Tony Lynch, the head of the National Security Group in the Department of the Prime Minister and Cabinet, speaks at the University
Tony Lynch, the head of the National Security Group in the Department of the Prime Minister and Cabinet, speaks at the University

Two years ago, the Royal Commission of Inquiry into a terrorist attack in Christchurch challenged the government to build a conversation with New Zealanders about national security challenges.

An expert discussion on cybersecurity at the University on 24 October was a contribution to that goal. “We need the sorts of conversations that we’re having now,” Tony Lynch, a top national security official, told the audience.

Fellow panellists in the Taumata Rau Conversation, hosted by Vice-Chancellor Professor Dawn Freshwater, were:

  • Professor Giovanni Russello, the head of the University’s School of Computer Science
  • Lisa Fong, deputy director-general, National Cyber Security Centre
  • Amber McEwen, the chief executive officer of Research Education Advanced Network New Zealand, which runs a data network for researchers and educators collaborating across New Zealand and the world.

The background included cyber-attacks which have targeted nationally significant organisations including Parliament and universities. A ransomware assault crippled the Waikato District Health Board in 2021 and last month electronic ticketing for Auckland public transport was similarly taken out of action.

Lynch, the head of the National Security Group in the Department of the Prime Minister and Cabinet, walked the audience through the nation’s first national security strategy Secure Together – Tō Tātou Korowai Manaaki, issued in August by the Ministry of Defence.

Malicious state and non-state actors are a persistent cyber threat to all New Zealanders,

How far do we lock down New Zealand and stop that free flow of information? You can go too far and then you end up with the Great New Zealand Firewall.

Amber McEwenHead of Research Education Advanced Network New Zealand

Individuals and private organisations are key in fending off the assaults since the bulk of cybersecurity capability and effort lies outside of the government.

Asked about his biggest concerns, Lynch highlighted the increasing interconnectedness of critical infrastructure, as powerfully demonstrated in Hawke’s Bay during Cyclone Gabrielle when electricity and communications failed after the flooding of a power station, impeding emergency responders and cutting services such as EFTPOS and ATMs.

Critical infrastructure needs more of a “system” approach, sharing information across sectors, he said. Likewise, Fong was focused on vulnerabilities from the intertwining of physical and digital infrastructure and reliance on the global digital supply chain.

In Russello’s view, New Zealand is “not where we should be” on cybersecurity for reasons including a lack of investment, a shortage of cybersecurity specialists, including in academia, and businesses treating digital security as a late-stage add-on.

Cyber panel, from left, Lynch, Fong, McEwen and Russello
Cyber panel, from left, Lynch, Fong, McEwen and Russello

Burnout of cybersecurity workers was a topic and moderator Tim McCready prompted a discussion about the potential for minimum standards and mandatory reporting.

Issues with critical infrastructure seemed to support a regulatory move in that direction, away from New Zealand’s traditional principles-based approach, according to Lynch. However, Fong cautioned there were no “silver bullets.”

The audience learned from McEwen of issues facing a digital network linking our scientists to the world.

The Research Education Advanced Network New Zealand, which she heads, is a Crown-owned company operating a network which lets researchers collaborate on data-intensive projects and is used by entities including universities and Crown Research Institutes.

In instances such as Russia’s invasion of Ukraine or the Taliban’s grab for power in Afghanistan, should the global community of research and education networks cut off those nations’ scientists and researchers?

“That’s been the big debate for us,” said McEwen. “We’ve come to the point where we keep collaboration going but we pull off research programmes where necessary.”

Risks from interconnected infrastructure were demonstrated in Hawke’s Bay during Cyclone Gabrielle when electricity and communications failed along with services such as EFTPOS and ATMs.

In Europe, Russian scientists were cut off from the Large Hadron Collider, the world’s most powerful particle accelerator, because research could be weaponised, she said.

Another conversation in McEwen’s world is the balance between security and information flow.

“How far do we lock down New Zealand and stop that free flow of information?” asked McEwen. “You can go too far and then you end up with the Great New Zealand Firewall.”

Taumata Rau Conversations will continue into 2024. The series aims to spark meaningful discussions from multiple perspectives on the major issues confronting Aotearoa New Zealand.

The cybersecurity event was the second in the series, following a discussion of the future of the health workforce.

Mood of the Boardroom: Automation finds favour (NZ Herald)

Mood of the Boardroom: Automation finds favour (NZ Herald)

Conversations about the future workforce have been running hot lately, particularly following the release of OpenAI’s ChatGPT. Recently, both IBM and British telecommunications giant BT Group cited automation and digitisation when announcing job cuts.

Automation is transforming almost all industries. Farmers are harnessing the power of automation to optimise every aspect of their operations, from herd management to milk production.

A recent Goldman Sachs study predicts that generative AI tools could see 300 million full-time jobs lost or diminished worldwide, leading to significant disruption in the job market.

Business leaders were asked whether Government should change the tax settings to accelerate investment in automation to lift productivity.

They overwhelmingly responded yes, with 68 per cent of respondents saying it should, underscoring the potential seen in automation to significantly boost productivity within various sectors.

“Technology can deliver significant efficiency, productivity, and sustainability benefits, and incentivising uptake across all levels of the economy will bring substantial benefits to New Zealand,” says Spark CEO, Jolie Hodson.

An education boss says “we need to ensure there is more investment in R&D to support locally led and developed AI and automation expertise, or this will become a process of offshoring and dependency on foreign providers (with many associated risks of both cost and missed opportunity).”

Just 15 per cent advocated against alternating tax settings.

Sam Stubbs, founder and CEO of Simplicity, notes that the crux of the matter lies in policy alignment rather than simply adjusting tax settings and deductibility.

Furthermore, a finance executive says the necessary incentives for promoting automation already exist within the current framework.

This perspective is backed up by a professional director, who says that businesses should already be actively pursuing automation, with current economic factors like inflation serving as additional driving forces.