Changes to Mercury Board

The Mercury Building, 33 Broadway, Newmarket 1023
PO Box 90399, Auckland 1142





STOCK EXCHANGE LISTINGS: NZX (MCY) / ASX (MCY)

ANNOUNCEMENT
Changes to Mercury Board

20 August 2025 – Mercury is pleased to announce the appointment of Rachel Taulelei to its Board of
Directors, effective 20 August 2025.

Rachel is a prominent business leader and advocate for the Māori economy and values-based business
models. She has broad governance experience, currently serving as Chair of Moana New Zealand and
holding directorships with Sealord, The Warehouse Group, Wellington International Airport and ANZCO
Foods.
“I’m delighted to be welcoming someone of Rachel’s calibre to the Mercury Board,” said Mercury Chair Scott
St John. “Her deep experience in Māori and stakeholder relationships, business and broader sustainability will
be a significant asset as we continue to grow our impact and strengthen connections into community,” said Mr
St John.
Rachel’s appointment aligns with Mercury’s commitment to further deepening relationships within key
operating regions, including along the Waikato River and in the Central North Island.
“Rachel’s unique combination of commercial insight and cultural intelligence will support our continued
commitment to creating shared value – for our shareholders and Aotearoa more broadly,” said Mr St John.
Rachel is co-founder of Oho, a business design and brand strategy agency and previously served as CEO of
Kono, a Māori-owned food and beverage company, and founder of Yellow Brick Road, a sustainable seafood
venture. She also represented New Zealand as Trade Commissioner in North America.
Mercury’s Board unanimously supported Rachel’s appointment and resolved that Rachel is an Independent
Director for the purposes of the NZX Listing Rules. Under the NZX Listing Rules, Rachel is required to retire at
the 2025 Annual Shareholders’ Meeting and will stand for election by shareholders with the unanimous
support of Mercury’s Board.
Directors to retire
As previously announced, James Miller and Lorraine Witten will retire as Mercury directors in September
2025.
After ten years’ service on the Board, Mike Taitoko (Ngati Maniapoto) also stands down at the end of his term
after the Annual Shareholders’ Meeting on 19 September 2025.
“On behalf of the Board, I extend my sincere thanks to Mike for his enormous contribution to Mercury,” said Mr
St John. “Mike has played a pivotal role in guiding and strengthening our connections into Māoridom over the
past decade, providing invaluable support for the hard mahi of our team.”
“Mike’s leadership has helped Mercury navigate a decade of transformation with integrity and purpose,” said
Mr St John.
ENDS

The Mercury Building, 33 Broadway, Newmarket 1023
PO Box 90399, Auckland 1142
Howard Thomas
General Counsel and Company Secretary
Mercury NZ Limited


For investor relations queries, please contact:
Paul Ruediger
Head of Business Performance & Investor
Relations
027 517 3470
investor@mercury.co.nz

For media inquiries, please contact:
Shannon Goldstone
Reputation and Social Impact Lead
027 210 5337
mercurycommunications@mercury.co.nz


ABOUT MERCURY NZ LIMITED
Mercury’s generation assets produce electricity from 100% renewable sources: hydro, geothermal and wind.
We’re also a retailer of electricity, gas, broadband and mobile services. We’re listed on the New Zealand Stock
Exchange and the Australian Stock Exchange with the ticker symbol ‘MCY’, with foreign exempt listed status.
The New Zealand Government holds a legislated minimum 51% shareholding in the Company.
Visit us at: www.mercury.co.nz