But, first, the search is on for new directors for each of the holding company's subsidiary boards, DCHL chairman Denham Shale said yesterday.
It was confirmed this week Mr Shale and DCHL director Bill Baylis had been joined on the new DCHL board by Otago Polytechnic Council chairwoman Kathy Grant and Polson Higgs chief executive Graham Crombie. That brought the DCHL board to a full complement of four directors tasked with providing an overarching, independent board for the council's group of companies, including Aurora Energy, City Forests, Dunedin City Treasury and Delta Utility Services.
That met one of the key recommendations from the review last year of DCHL by Warren Larsen, which was prompted by news of a shortfall in DCHL dividend payments to the council and the fallout that followed.
The Larsen report recommended an end to directors serving on more than one subsidiary board, or on both DCHL and subsidiary boards.
Mr Shale said yesterday a parallel search was under way for new directors for the subsidiary companies.
The aim was to replace some, but not all, of the directors who had remained on the subsidiary boards after opting to quit - or being removed from - the DCHL board last year.
"Obviously, we'd have to have some continuity. There's no way we're going to chuck everybody out of every position," Mr Shale said.
"I would be disappointed if we didn't have those boards in place by the end of September."
He would not discuss the process by which existing directors could be reappointed, saying only "we'll work that out".
The Larsen report had also suggested asset sales might be needed - "however unpalatable from a historical perspective" - to address rising council debt levels. It suggested City Forests could be one candidate if the council's requirement was for shorter-term cash returns, given forestry companies were "not noted for availability of strong cash flows".
Earlier this year, it was reported DCHL was to review its company assets. A report to councillors - expected by last month - was to identify those that were underperforming and possible candidates for sale.
Yesterday, Cr Syd Brown, chairman of the council finance, strategy and development committee, said that had not happened, but the report was now expected by November, in time for the council's next annual plan process.
"Now that they've got their DCHL board in place, they will be looking strategically across all the companies and assets they hold, and what is the most appropriate way of delivering the outcome for the city."
Mr Shale would not be drawn on that yesterday. However, he said this week's appointments completed governance changes for the DCHL board, and meant the board was now in a better position to provide independent governance for its subsidiaries.
"Previously, you had the same people at each level, so you didn't have any independent overview to ask any questions.
"It just means you have now got another tier of thought and experience and abilities."
