Directors of Dunedin City Holdings Ltd say they have delivered for the Dunedin City Council, despite being removed from their posts or forced to resign.
DCHL directors Stuart McLauchlan and Michael Coburn opted to jump rather than be pushed, faced with Larsen report recommendations calling for restructuring over an $8 million annual dividend shortfall.
Fellow directors Norman Evans, Ross Liddell and chairman Paul Hudson - also a city councillor - chose not to resign, and were instead removed in changes confirmed by Mayor Dave Cull yesterday.
Three directors yesterday appeared keen to avoid controversy, telling the Otago Daily Times they were happy with their performance but accepted the findings of the Larsen report.
Mr McLauchlan said he was "relaxed" about the changes, but expected to be judged on results contained in the latest DCHL annual report.
That showed a $19 million profit and a $23.3 million dividend to the council, which was a "very strong" result, he said.
"We've delivered the result." He did not see Mr Cull's recent comments as a criticism of the board, and believed it was "prudent" of directors to reduce the dividend - and therefore borrowing required to fund it - to the council.
The council, as shareholder, was still entitled to make changes, and "I've got plenty of other very good things to get on with".
"It's a decision that's been made and I've acceptedit. Life goes on."
Mr McLauchlan said, faced with the Larsen report findings, he opted to resign from the DCHL board and continue as a director of subsidiaries Aurora Energy Ltd, City Forests Ltd, Dunedin International Airport Ltd and Delta Utility Services Ltd.
That was expected to change next year, when directors were further limited to just one company.
Mr Coburn told the ODT he also opted to resign from DCHL based on the Larsen report recommendations.
He also believed the DCHL board had delivered a "very good result" given the global financial environment, but said the council's changes were "a fact of life".
"It wouldn't be the ideal process to have been undertaken, but that's what was done . . . They [the council] get to choose what they do and don't do.
"I don't think the directors of the boards can be criticised for their efforts. The results speak for themselves."
Asked about Mr Cull's handling of the issue, Mr Coburn said the mayor had been in "a pretty difficult position" and had sought, and listened to, independent advice.
Mr Coburn would continue as a director of City Forests, Aurora and Delta in the meantime, until the full review of directorships was completed.
"There's plenty of other things I'm doing, and will be doing."
Mr Evans - who was removed after opting not to resign - said the council changes were "entirely their prerogative", but defended the board's performance.
"I don't think there's any suggestion the job's been done badly ... because the numbers speak well for themselves."
He supported some of the changes, but would not say which he did not agree with, adding a public "slanging match" was not appropriate.
Some of the criticisms levelled at the board - but not comments by Mr Cull - were "demonstrably untrue", but he remained philosophical.
"If you're going to work in a public position, occasionally you'll get bricks thrown at you.
"If you can't take a little bit of that, you shouldn't really be doing it, I guess."
Mr Evans would continue as a director of Aurora, City Forests and Delta in the meantime, as well as with other interests. .
"I really enjoy the work.
"It's always nice feeling like you contribute to the city."
Mr Liddell did not return calls yesterday afternoon.
