29 Jul 2010

Shareholders Assn marks 10th anniversary

11:45 am on 29 July 2010

New Zealand Shareholders Association founder Bruce Sheppard says the organisation has been instrumental in giving small investors a voice in listed companies.

The association is holding its 10th annual meeting in Auckland and

Mr Sheppard has given his final speech as chairman.

He said the association has won countless small battles over the past decade that in accumulation had changed the financial landscape for investors.

Its victories include forcing Feltex into liquidation by way of a shareholder petition - the first time such a move had been successful - and getting Telecom to change the way it pays its directors.

Commerce Minister Simon Power praised Mr Sheppard, who held the chairman's job for 10 years, for his tireless work in keeping companies honest.