Business Overview

Bold, strategic, innovative effort has seen Trustpower change and grow to become New Zealand’s fourth largest fixed-line telecommunications retailer and fifth largest electricity generator and energy retailer.

Listed as Trustpower Limited on the New Zealand Stock Exchange in 1994.
Established in 1923 as the Tauranga Electric Power Board.

Senior Leadership Team

David Prentice
Chief Executive and Director

Sara Broadhurst
General Manager People & Culture

Peter Calderwood
General Manager Strategy & Growth

Stephen Fraser
General Manager Generation

Craig Neustroski
General Manager Markets

Kevin Palmer
Chief Financial Officer and Company Secretary

Fiona Smith
General Manager Customer Operations

Matt van Deventer
General Manager Technology & Delivery

Board of Directors

Paul Ridley-Smith

Kevin Baker

Peter Coman

David Gibson

Susan Peterson

David Prentice
Chief Executive & Director

Keith Turner

Changes to our Senior Leadership Team
over the past 12 months:

  • Sara Broadhurst joined the Senior Leadership Team on 22 October 2020 as General Manager People & Culture.
  • Matt van Deventer joined the Senior Leadership Team on 3 December 2020 as General Manager Technology & Delivery.
  • Craig Neustroski resigned 6 May 2021, contemporaneously with Paul Bacon being appointed as General Manager Markets.

Changes to our Board
over the past 12 months:

  • David Gibson joined the Board effective 7 September 2020.
  • Peter Coman joined the Board effective 6 November 2020, contemporaneously with Geoff Swier retiring.
  • Sam Knowles retired from the Board, 24 July 2020.
  • David Prentice (Chief Executive) remains a Director on the Board.

Where We Work

Trustpower is proud to generate more than 99% of our power sustainably through renewable hydroelectricity, with 26 generation schemes throughout New Zealand. Our workforce is spread throughout these schemes, as well as offices in Auckland, Tauranga, Oamaru, Christchurch, Darfield and Wellington.


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What We Offer

In recent years, Trustpower successfully disrupted the energy and telecommunication industries by creating a new approach to home services: providing bundled home offers of energy, broadband and telecommunications. Our range of products and services has continued to expand, with mobile added this year and solar options being actively explored.








Our Stakeholders

We work with our stakeholders to understand what matters to them.

Our Corporate Structure

Our Board Committees

The Board has established three standing subcommittees being; the Audit and Risk Committee, the Governance and Nominations Committee and the People and Remuneration Committee. Each committee provides necessary oversight and management for key areas of governance.

Audit & Risk Committee

A standing Audit & Risk Committee assists the Board to fulfil its responsibilities in relation to risk management, culture, acceptance, and mitigation. Quarterly reporting to this Committee ensures regular review of current and emerging risks (including climate change) in the context of our risk profile, our strategic aspirations and changing external conditions.

Audit & Risk Committee Members

Susan Peterson, Director (Committee Chair)
Kevin Baker, Director
David Gibson, Director

Governance & Nominations Committee

The Board has established a Governance and Nominations Committee to assist Trustpower with:

  • ensuring Trustpower has good corporate governance and a process in place to promote continuous improvement in corporate governance;
  • ensuring the Board has an appropriate balance of skills, experience, knowledge, judgement, and diversity to govern Trustpower appropriately; and
  • selection and retention of directors based on merit, the collective needs of the Board and Trustpower’s strategic objectives.
Governance & Nominations Committee Members

David Gibson, Director (Committee Chair)
Susan Peterson, Director
Paul-Ridley Smith, Board Chair

People & Remuneration Committee

To govern our remuneration and ‘people’ policies, the Board has established a People and Remuneration Committee. The primary purpose for this Committee is to establish coherent remuneration strategies, policies and practices for our people. Responsibilities for the Committee include reviewing and recommending: remuneration levels and packages for directors and the Chief Executive and their direct reports; aggregate remuneration levels for non-executive staff; diversity and inclusion, code of ethics and protected disclosure policies; and key measurable objectives of diversity and inclusion. They also monitor our key ‘people’ risks including compliance with employment law and regulations.

People & Remuneration Committee Members

Susan Peterson, Director (Committee Chair)
David Gibson, Director
Paul-Ridley Smith, Board Chair

A full statement of roles and responsibilities for each committee, and their charters, can be found in our governance documents within our Investor Centre on the Trustpower website


This year we updated our strategic framework to provide better clarity around organisational goals. Our new strategic aspirations and targets (which double as our intended outcomes from value creation) are centred around how we drive financial performance, deliver on climate action, respect our environment, value our people, serve our customers and community, and collaborate with our partners and suppliers. Aligned with our values (people, integrity, courage, open and transparent, collaboration and adaptability) our aspirations provide the roadmap for our people to achieve success. We intend to regularly report on our progress towards the targets for each of the six aspirations.

Our Customers and Community are Valued

We value and understand our customers and they trust us to make their lives easier. We make a positive contribution to the communities we operate in and are invested in their long-term success.


Measures to include targets around increased customer Net Promoter Score (NPS) and development of key stakeholder relationship plans.*


Our People are Valued and Cared For

We play to the strengths of our high-performing and diverse workforce. Our people thrive in a fast-moving and hard-to-predict world, adapting to change and courageously challenging the status quo. Our people are our competitive advantage.


Measures to include targets around increased employee engagement, health and safety performance and culture, and diversity inclusion.*

Collaboration with our Partners and Suppliers

We are trusted and respected for our authenticity, knowledge and expertise, and we leverage these relationships to create mutual and sustainable value.


Measures to include targets around shared value partnerships, development of sustainable procurement standards and integration of life cycle thinking in the design/maintenance of our larger projects.*

Climate Action

We are committed to helping New Zealand achieve its climate change aspirations through continued investment in renewable energy, attention to risk, reduction of our impact, and encouraging our partners and suppliers to do the same.


Measures to include targets around reductions in greenhouse gas emissions and embedding risks and opportunities around climate action into business as usual operations.*

Respect of our Environment

We understand the importance of kaitiakitanga, and we continuously improve our practices to ensure the long-term sustainability of our assets and services, and their interaction with taonga.


Measures to include targets around how we work with tangata whenua in the catchments in which we operate and setting annual objectives around our top environmental improvement opportunities.*

Financial Performance

We are in the top-quartile of the NZX50, driving sustained growth through smart and courageous investments in assets, products, technology, people, and continuous improvement.


Measures to include targets around increased Total Shareholder Value (TSR), EBITDAF and secured generation investment options.*

*Targets will be confirmed once the outcome of the strategic review is known.