Phillip (Phil) Verry

Relevant Experience
Phil Verry, is also executive chairman of Waipa Corporation Ltd and Red Stag Timber Ltd. He was a former senior partner in the Wellington office of the business services firm now known as PriceWaterhouse Coopers and was the inaugural chairman of NZ Wood Innovations (Asia) Inc, which partnered with NZ Trade & Enterprise to establish the New Zealand Wood Innovation centre in the CBD of Shanghai, China. Phil has also devoted a considerable amount of time and resources to developing the Interest Linked Savings Scheme (ILSS), which is a technically robust solution designed to provide effective methodology for the operation of Reserve Bank Monetary Policy. This policy has been developed with a view to fostering greater economic growth in NZ. Phil has extensive professional and commercial experience.

Primary Career
Chartered accountant, company director and business adviser in public practice. Withdrew in 1986 as a partner in the Wellington Office of Coopers & Lybrand (now PriceWaterhouse Coopers).

Established many new business ventures. Consulted to private sector and government agencies, including Crown Law Office and Inland Revenue Department. Designed and managed the passage into law of the Winton Holdings Licensing Act, to license New Zealand's first Country Club.

As Wellington chairman, combined with other regional chairman in 1974-75 to establish SPELD New Zealand as a national organisation, in the face of opposition from (education) officials.

Waipa Mill - Red Stag Timber Ltd
In 2003, purchased New Zealand's largest timber sawmill and wood processing plant, employing 250 staff, at a time when there was a shadow over its future. With the management team, applied intensive turnaround strategies to take the company to a position where it is increasingly being looked to for industry leadership. Also, implemented an expansion strategy which has increased productive capacity from 200,000 m3/pa to over 300,000 m3/pa, with planning underway to expand production to 470,000 m3/pa, which will bring 1,000,000 m3/pa within the range of discretion. It is now the largest sawmill in New Zealand, is succeeding against industry trends and is pursuing a vigorous expansion programme. It, too, is winning performance awards.

New Zealand Wood Innovation Centre - Shanghai
Chaired a consortium of New Zealand wood processors which partnered with NZTE to establish the New Zealand Wood Innovation Centre, in Shanghai, to showcase and promote New Zealand pine to the China market, as a commercial bridgehead into China.

Energy Events Centre - Rotorua
As chairman of Red Stag Timber Ltd, supported Rotorua District Council by a lead commercial sponsorship ($500,000) to enable the establishment of the recently opened $27 million Energy Events Centre, which has already become a powerful component of the Rotorua economy's drive to lift the living standards of the city's residents. Red Stag Timber Ltd accepted membership as one of five Foundation Partners of Rotorua District Council.

Rotary GSE Tour Member - 1975
As a non-Rotarian, Phil was selected by Rotary to visit the North-East of England as a member of a group study exchange tour, which gave exposure to different social attitudes and a recognition of the then relatively cloistered thinking within some New Zealand bureaucracies.

Agricola Resources Ltd - 1989
Appointed by National Provident Fund as executive chairman of this then ailing publicly listed company, involved in several diverse rurally-based ventures. Assignment became a sell-down project when the Development Finance Corporation collapsed in the wake of the ill-conceived post-1984 economic reforms.

Wool Stockpile Reform - 1993
As a personal initiative, analysed that the policies being pursued by the Australian and New Zealand wool boards for the sell-down of the massive wool stockpiles, that they had accumulated by ill-conceived policies, and recognised they would do massive damage to the woolgrowing industries of the two countries, at considerable cost to their respective economies. Developed and publicly advocated a solution strategy, based upon original concepts, against opposition by Wool Board officials. The Australian government enacted the solution into law. It diluted the recommendations, at the fringe, but probably came to regret it had done so. Nevertheless, wool prices doubled within 18 months, to confound their officials' predictions that "there would not be a lift in wool prices for seven years". Here, the NZ Wool Board and government sat on their hands, so New Zealand's gains were entirely by spin-off from the leadership of the Australian government to support the solution. Gains: Australia around $10 billion; New Zealand around $1 billion (as spin-off from the Australian reforms).

Merino New Zealand Inc
In 1993-94 chaired and led the committee that researched designed scoped and established Merino New Zealand Inc (MNZ), again against sometimes extreme opposition by NZ Wool Board officials. MNZ has since gone on to establish a distinct identity for New Zealand merino wool, which has spawned several successful private ventures and has won export awards.

New Zealand Wool Board
At the request of a group of woolgrowers, Phil served a term as a director of the NZ Wool Board. Declined an approach to stand as chairman. Recognised that the NZ Wool Board had a self-serving internal culture that pre-disposed it to the inevitability of failure and economic loss to growers and to the general economy. Phil led a move to remove the Wool Board, by act of Parliament in 2003, after its officials and its board opposed the reforms the industry needed for its economic survival.

New Zealand Meat & Wool Economic Service
During term as a Wool Board director, Phil served on the board of NZ Meat & Wool Economic Service. The NZM&WES provided economic services to the Meat and Wool Boards.