A director's leaving note
MTA Independent Director Mark Darrow steps down but remains with the auto sector.
Farewell from MTA but not the sector
MTA appointed Director Mark Darrow has completed his second term and stepped down from the MTA Board. But he is far from hanging up his briefcase.
Over the past three plus decades Mark has built up considerable experience within the Auto sector and met a lot of great people along the way, including Michael Schumacher (above).
The highlights include Managing Director for what was then New Zealand’s largest retail dealership Continental Car Services, Executive Director for one of New Zealand’s largest vehicle finance companies, GE Money, MITO Board member, director at AA Finance, and six years with the MTA Board. He is the current chair of the Armstrong Motor Group Advisory Board, and is a Ministerial appointment on the New Zealand Transport Agency Board.
Mark said he was offered another term with MTA and would loved to stay on for another couple of years but felt it was time to go and he could see emerging conflicts with his NZTA role.
On leaving, he reflected on some of his achievements.
“When I joined the Board, there was just one asset, VTNZ, which had emerging risks around de-regulation. It wasn’t smart to have 95 percent of our wealth tied up in one asset. Fast forward to today, there is not only an exceptional partnership with German company Dekra SE as a result of our shareholding in VTNZ, but we also have a well-performing and diversified portfolio that has seen double digit returns every year that support the operations of MTA. Our Dekra/VTNZ shareholding now makes up around 40 percent of our investment wealth.
Mark was also proud to have helped set up MTA’s regional structure, working through what were difficult building issues after the earthquakes, and expanding the services MTA provides to its members. And of course 2017’s memorable centenary celebrations “which showcased what MTA is all about.”
He says he has worked with some great people over the years and praised the Board for their ongoing hard work.