Orion is committed to demonstrating the highest standards of corporate governance. Our aim is to achieve the best balance of outcomes for owners, customers, individuals and the community. In accordance with section 36 of the Energy Companies Act 1992, the company’s principal objective is to operate as a successful business.
Orion Board members are appointed by our two shareholders. The Selwyn District Council appoints one director, with all other directors appointed by our majority shareholder Christchurch City Holdings Limited. The board chairman is elected by the board.
The board of directors is the overall and final body responsible for the proper direction and control of the company’s activities. The board’s responsibilities include approval of the strategic direction and values, monitoring financial and operational performance, and ensuring adequate systems for the identification and management of risk.
Every year, after consultation with the company’s shareholders, a Statement of Intent (SOI) is approved by the board. The SOI sets out the company’s overall objectives and intentions, as well as performance targets for the next three years. The board also aims to ensure that shareholders are informed of all major developments affecting the company’s state of affairs.