Dunedin City Holdings' chairman replaced

The man brought in to help fix the Dunedin City Council's companies has been replaced.

Denham Shale, chairman of Dunedin City Holdings Ltd, has stepped down from the role, it was announced yesterday.

He was replaced by Otago Museum chairman Graham Crombie, who was appointed a DCHL board member during restructuring in July last year.

Mr Shale would remain on the DCHL board until later this year.

He was brought in to help restructure the council's group of companies in 2011, following revelations of a multimillion-dollar shortfall in dividends from DCHL to the council.

The political fallout that followed included a review by Warren Larsen and restructuring of the boards of DCHL and its subsidiaries, overseen by Mr Shale.

A report recommending further changes within the group of companies was expected to be presented to councillors later this year.

Dunedin Mayor Dave Cull, in a statement yesterday, thanked Mr Shale for his work and welcomed Mr Crombie to his new role.

Mr Shale and fellow director Bill Baylis had both previously indicated their intentions to retire from the DCHL board later this year.

-chris.morris@odt.co.nz

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