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Ruapehu Skifields Governance Proposal

The Ruapehu Skifield Stakeholders Association have released their draft Governance Framework for the Ruapehu Skifields. The framework has been shared this week with PwC, MBIE and other key stakeholders.

The proposed structure offers a balanced approach to ensure the long-term sustainability of the skifields and protect the interests of all stakeholders. The proposed structure balances the three vital sources of cash needed to stabilise the skifields (customers, equity investment and debt providers) along with other key stakeholders such as the local community.

The 2 page proposal outline is available for download here:

RSSA NewCo Draft Goverance Structure
Download PDF • 1.22MB

Stakeholder Representation

Stakeholders Assocation:

  • Association protecting members interests in the long-term stability, transparency and good governance of the skifields.

  • NewCo will issue the RSSA with % of material or “golden shares” on incorporation. This is to prevent corporate takeovers and changes to the constitution.

  • Promotion of Life pass holder transfer fees into NewCo.

  • The Association to appoint 2 of NewCo directors.

  • The board representatives will host an annual meeting to provide updates on NewCo performance, hear feedback from members and vote to direct the board representatives

  • In addition to the elected board representees, there will also be a range of sub committees in the society to allow for diverse viewpoints, active participation.

  • Example participants would include (1) Leadership Committee, (2) Life pass Holders (3) Iwi, (4) Businesses, (5) Environmental etc. These participants would consult with relevant stakeholders and (through the Board Representatives) assist NewCo with special projects, advice and input.

Equity Crowdfunding Investors:

  • NewCo Ltd will issue general shares to raise capital to everyone.

  • General Shareholders do not attract dividends (but may be able to achieve a capital appreciation if the share price increases).

  • Likely to be mountain users, clubs, local business etc. who all rely on the industry.

  • General shareholders to appoint 3 of NewCo directors elected by vote at the NewCo AGM.


  • Bondholders have no shares in NewCo unless they choose to via the equity crowd funding.

  • Bondholders to appoint 1 of NewCo directors.

  • Bondholders receive investment % return (coupons).

  • Provides ability to raise capital for major investments.

  • Current Bondholders include, Iwi investment companies, local trusts, councils and individuals.

Governance Structure

There are several elements of the proposed structure that are aimed at achieving a balance between stakeholders that ensures long-term stability, transparency and accountability.