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14 Dec 2017 17:22
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  •   Home > News > Business

    Tindall takes year off for America's Cup

    Warehouse founder Stephen Tindall will take a year off to focus on preparations for Auckland to host the America's Cup.


    Warehouse founder Stephen Tindall will take a year off from the company's board to focus on preparations for Auckland to host the America's Cup sailing event.

    Mr Tindall is taking a leave of absence from the board until October next year, with his son Robbie Tindall standing in as an alternate director, the retailer said.

    He's taking a break to focus on his commitments as Team New Zealand chair, such as securing the necessary infrastructure for Auckland's hosting of the America's Cup defence.

    "The Warehouse Group is currently well-led at a governance level," Mr Tindall said.

    "My confidence in this leadership and our strategy for the next 12 months and beyond makes it possible for me to take a leave of absence."

    This will be Mr Tindall's first extended break from the company since he opened the first store on Auckland's north shore in 1982.

    The break will also see him pursue venture capital opportunities through his K One W One business and charitable works through the Tindall Foundation.

    Warehouse shares last traded at $2.16 and have dropped 24 per cent this year, lagging behind a 13 per cent gain on the S&P/NZX All Index over the same period.


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