Former New Zealand prime minister Jenny Shipley resigns from China Construction Bank unit
- Shipley steps down from board to deal with legal fallout from failed construction company
- Decision comes after publication of article in Chinese Communist Party mouthpiece attributed to former leader – an article she denies writing
Former New Zealand prime minister Jenny Shipley announced her retirement from the board of a subsidiary of China Construction Bank on Monday amid a series of controversies.
Shipley was ordered last week to pay NZ$6 million (US$4.08 million) to creditors of failed construction company Mainzeal as part of a NZ$36 million award by the High Court against the company’s directors.
This came soon after an article attributed to her appeared on the official newspaper of China’s ruling Communist Party. The article praised Beijing’s economic development at a time of strained ties with New Zealand but Shipley denied writing the article.
A statement released on behalf of China Construction Bank New Zealand said Shipley had informed her fellow directors that she believed it was in the best interests of the company that she retired from the board as of March 31.
Shipley intended to focus on personal and legal matters related to the Mainzeal case and spend more time on her private business and philanthropic interests, the statement said.
Shipley served as a director of the bank from 2007 to 2013.
