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State Owned Enterprises Minister Tony Ryall has today announced three new appointments to State Owned Enterprise boards and an airport company board.

Chair of the Lotteries Commission Judy Kirk has been appointed as director of MetService. Mrs Kirk is a former president of the National Party.

Alistair Scott has been appointed to the board of Transpower. He is a director  of numerous boards, and is a former executive at Meridian Energy and Credit Suisse First Boston.

The Government believes there is significant merit in extending the mixed ownership model to four state-owned energy companies and reducing the Crown’s majority shareholding in Air New Zealand.

It will help reduce Government debt, increase investment opportunities for mum and dad investors and improve the companies’ financial performance, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall say.

The Minister for SOEs, Simon Power, confirms that he has relinquished the SOEs portfolio, effective at noon today.

"This was my decision, and is based purely around my transition to private life after the election."

He says it was a necessary step to ensure there was transparency, and he considers it was his only option.

State Owned Enterprises Minister Simon Power today announced 18 new appointments and 11 reappointments across 12 SOEs and one airport company.

“I’m pleased to be making a range of strong new appointments in this round, but I also want to acknowledge the retirement of Airways Corporation chair Con Anastasiou.

“Mr Anastasiou, who is retiring at the end of July, has served on the Airways board since 2000 and has led the company with considerable success as chair since January 2005. I thank him for his dedicated service over that time.”

Simon Power, the MP for Rangitikei and the fourth-ranked Minister in John Key's National-led Government, is to retire from politics at the election in November.

Mr Power said he was looking forward to continuing to contribute to New Zealand's growth, but in the private sector.

"It's time for new challenges and new opportunities.

“I've been extremely privileged to serve in the Cabinet under Prime Minister John Key, and as the Member for Rangitikei since 1999.

Finance Minister Bill English and State Owned Enterprises Minister Simon Power have formally asked Treasury for advice on the merits and viability of extending the mixed-ownership model to four more state-owned enterprises.

As Prime Minister John Key outlined this week, the ministers have asked for advice on the merits and viability of: