Publications
Media Statements
EQC Head to Step Down
1 September 2009
David Middleton, the Chief Executive of the Earthquake Commission, is to step down in the New Year after 17 years as head of EQC.
The EQC Chairman, Michael Wintringham, said that Mr Middleton had made an outstanding contribution to EQC over that time.
“The current strength and stability of the organisation is due in large measure to David Middleton’s vision and leadership. It has been professionally rewarding to work with him during my three years as EQC Chairman. Although his departure will be a loss to EQC, I understand that the timing is right for him personally, and that he will be handing over a very well performing organisation to his successor.”
Mr Middleton said that “for personal and business reasons, now is a good time to be handing over to a new CEO”.
“Not only is EQC strong and stable, it has recently received endorsements from two expert panels that its plans for meeting a disaster response are sound, and its major investment to support scientific research, the GeoNet hazard monitoring network, is putting New Zealand up with the best in the world.”
“The Natural Disaster Fund has weathered the financial turmoil of the past year, showing that EQC’s diversified investment strategy has been sound,” Mr Middleton said.
The Earthquake Commission is a Crown Entity that provides natural disaster insurance to New Zealand home-owners, funding for research, and information about how homes can be made safer from damage that natural disasters cause. The Commission is funded by a levy on domestic insurance policies and manages the Natural Disaster Fund that has grown from those levies and income on them. The Fund is currently $5.6 billion.
Mr Middleton is a fellow of the Australian and New Zealand Institute of Insurance and Finance, a chartered insurer and has an MBA gained with distinction from Victoria University, Wellington.
The Chairman said that the process for appointing a successor to Mr Middleton would begin this month. He hoped that an appointment would be announced by the end of this year.
Further information:
Jo Martin
Communications Adviser, EQC
Phone (04) 978-6430, (029) 978-6430
Fax (04) 978-6431