The appointment was ratified by LIC shareholders at the farmer-owner co-operative’s annual meeting yesterday.
Foote is currently a director and chairwoman of the audit and risk committees of Z Energy, BNZ Life Insurance and the New Zealand Local Government Funding Agency, and is a director of Transpower New Zealand.
Foote will chair LIC’s audit, finance and risk committee.
Chairman Murray King said with qualifications in law and accounting, Foote’s career had focused on corporate finance and commercial transactions.
“She has a breadth of experience in a number of diverse areas including mergers and acquisitions, treasury and structured finance transactions, telecommunications, management of large projects and strategic development and implementation.”
The LIC Board is made up of seven farmer-elected directors and three independent directors. Other resolutions passed at the annual meeting included the reappointment of external auditor KMPG, and the approval of the shareholder council’s budget.
