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“STRATEGIC REVIEW” “The highlight of 2017, and the board’s number one focus, was to reset the strategic direction of our company to provide management with a clear direction for the next five years. The board was fully engaged in the redevelopment of the strategy, and played a central role in the complete review of NZX’s business, analysing global market trends and the performance and activities of our peers. The strategy which resulted from this process delivers a compelling vision for NZX, with initiatives that will drive growth, and deliver improved performance for you, our shareholders.” Chairman’s Letter to Shareholders - 2017 Annual Report

After reviewing NZX’s Five-Year Strategic Plan, which the Board claimed to have had significant input into plus influence on, and comparing it to other global exchanges’ strategic plans, we arrived at the same conclusion as Brian Gaynor (one of New Zealand’s most experienced investment managers and well known business commentators) did when he posited on the composition of the Board of NZX in June 2017*:

“What about directors with vision, leadership qualities and strategic, judgment and entrepreneurial skills?” * BRIAN A NOR UNE

Refer Appendix #8 of our NZX presentation dated September 2018 for a full list of Brian Gaynor’s articles on NZX



Profile for Richard

Elevation Capital Research Annual 2018  

Elevation Capital Research Annual 2018