Reserve Bank of New Zealand News Release

NEWS RELEASE - RBNZ Board begins process for finding new Governor, 29 April.

The Board of the Reserve Bank today met to initiate procedures by which a new Governor will be appointed.

The chairman of the Non-Executive Directors Committee of the Board, Mr Bill Wilson said: "Under section 40 of the Act, a Governor is appointed `by the Minister (the Treasurer) on the recommendation of the Board'. The Board has today initiated the process by which it will prepare its recommendation to the Treasurer.