Pyne Gould Corp (PGC) is a New Zealand company that can trace its origins back to the 1850's. It has a rich heritage and is worth saving.
2011 will hopefully mark the low point in the history of this wonderful company; we hope things do not get worse.
In 2011 the company's head quarters in Christchurch, were crushed in a devastating earthquake, which killed 14 of its employees. The financial history of the company will hopefully also reach a low point in 2011 and this blog is focused on how the company has been managed or some say mismanaged in recent years.
When you research PGC it becomes clear very quickly that there is really only one issue that lies at the heart of all its problems. The Board and management is not transparent. The Board is made up of George Kerr, Bryan Mogridge, Bruce Irvine and John Duncan and management by George Kerr, John Duncan, Patrick Middleton, James West and Elliot Worrall.It is ironic, because Transparency International ranked New Zealand as the most transparent country in the world on 1 Dec 2011 However, a lack of transparency allowed a general perception to take hold, which is that a major shareholder (George Kerr) are allowed to influence decisions in PGC to the point that it is detrimental to the average shareholder in the company and that the Board does not protect shareholders as it should.
This blog has one aim: Shed light on the topic, by becoming a central source of information on PGC and the labyrinth of business interests that surround it. Transparency is a wonderful thing!
This is a group effort so we look forward to any information you might care to share with us by emailing transparency6@gmail.com
