To head Institute of Directors

Dunedin professional director Stuart McLauchlan has been elected national president of the Institute of Directors. He replaces Denholm Shale, who has recently played a major role in re-structuring Dunedin City Council-owned companies.

Messrs McLauchlan and Shale were also appointed, together with Dunedin man Bill Baylis,to try to save South Canterbury Finance before it failed.

Auckland businessman Michael Stiassny has been elected vice-president of the institute.

He is a senior partner of KordaMentha New Zealand and is chairman of Vector.

Mr McLauchlan is chairman of the Otago-Southland branch of the institute.

He is also chairman of Pharmac, UDC Finance Ltd, Scott Technology and Dunedin International Airport.

It is the first time in nearly 20 years the role of institute president has been held by someone from the Otago-Southland branch.

Both Messrs McLauchlan and Stiassny will take up their roles in April.