Minister confirms directors

STATE Enterprises Minister William Duma has confirmed the appointments of several non-executive directors to the board of various state-owned enterprises.
Duma said after an extensive search and selection process conducted by Kumul Consolidated Holdings (KCH) with the assistance of independent recruitment companies, the recommended appointments were presented to the National Executive Council (NEC) for endorsement.
“The appointment of credible directors is to provide our SOEs with strategic direction, governance, and accountability,” he said.
“We have not taken this process lightly. The appointment process of senior management and directors is a component of the Government endorsed SOE reform programme, established with the assistance of the Asian Development Bank and is vital to the development of our SOEs.
“Board of directors provide critical oversight to each of the state-owned businesses.
“Therefore, directors have the necessary skill sets to critique a balance sheet or question the achievement of key performance indicators.
“They are the custodians of the shareholder’s mandated to deliver competent, reliable, and affordable services, whilst ensuring the sustainability of the company.
“An appropriate return on the assets invested in the business, is also an expectation of the shareholders,” he said.
Moses Maladina has been appointed as chairman of KCH. He is joined by a new director, Mathew May.
Karl Yalo and Gary Seddon have been appointed directors to the board of Air Niugini Limited.
Maxwell Paia joins the board of PNG Ports Corporation Ltd.
Michael Varapik joins the board of Post PNG Ltd and Stanley Komunt joins Motor Vehicle Insurance Limited.
Meckles Pova joins the board of the Water PNG Ltd. Duma also confirmed the establishment of a new board of directors for PNG DataCo Ltd, resulting from the recent restructure of the state-owned telecommunications businesses.
Dr Thomas Webter will chair the new board and is joined by directors Sandis Tsaka, Lucy Sebo-Kelis, Justin Wohiunangu, Timothy Pokaran, Desmond Black, and Albert Aiyus.
At PNG Power Ltd, Ronald McNale, Margaret Parua, Jack Jimben Walker, Mark McMonagle, and Prof Kenneth Sumbuk have been appointed as directors of the board.
At the National Development Bank Ltd, the new chairman is Darrell Seeto and he is joined by directors Jason Gilai, Graham King, Robert Leo, Keryn Hargreaves, Augustine Birie and John Auna.
The board of Telikom Ltd welcomed the appointment of new directors Godfrey Seeto, Lata Milner, Gideon Karali, and Moses Tedumo.
Duma congratulated the chairmen and directors on their respective appointments and urged them to carry the Governments expectations of the development of competent, sustainable, state-owned enterprises providing employment, efficient and better services and finally ensuring a profit for its shareholders the people of PNG.