Koro’s involvement with the Waikato-Tainui
Raupatu (land confscation) settlement and
its aftermath goes back a long way.
He was a member of successive
Parliaments that created the Waitangi
Tribunal, extended its remit so it could
hear claims back to 1840 and expanded
its resources so it could process more
claims, more quickly. He was also involved
in several of those decisions in various
offcial capacities.
Although
nally settled
their Raupatu claim by direct negotiation
with the Crown, they were only able to do
so in this context.
Transition
Koro was instrumental in the consolidation
of the tribe’s commercial operations in
the early 2000’s, signing off on a plan that
saw TGH separated out and given a single
objective – to maximise returns to its
Shareholder.
After that early restructuring, a long
period generating revenue and steady
accumulation of assets followed.
Development also started on The Base.
Koro derives great satisfaction from what’s
been achieved there today, particularly
the tribal elements that infuse the whole
complex. “Our history is implanted in it.”
The late 2000’s were also a challenging
time with the Global Financial Crisis. “Our
valuations went down, and several projects
were put on hold, but we were still able to
pay the dividend.”
By the time the
hotel came along, TGH’s assets had grown
suffciently for the company to fnally
normalise its banking relationships.
“That was a big thing. They could see we
were all reading off the same page, that
we had good asset backing and we were
determined to move ahead.”
Responsibilities
Before any action can be taken on land it
manages or owns, the company’s code
of ethics requires it to consult with the
relevant hapuu of Tainui.
Apart from carrying out his normal
Director’s duties, Koro has played a
pivotal role in undertaking this work,
not least because of his knowledge of
history and the fact that he knows so
many of the people concerned.
For example, following Koro’s
consultations, the
and the
ll received the green
light from the local hapuu, who then went
on to erect their own poupou at the sites.
With Ruakura, the latest development,
consultation with Tauranga Moana iwi
was involved. “Tauranga people have
had a long association with us,” Koro
explains. “When we went to see them
about Ruakura, they were very keen.
These working relationships go back
some years, well before our time, and can
always be rekindled.”
Tribal and commercial
alignment
Looking ahead, Koro says that TGH and
the Waikato-Tainui Executive are likely to
come together more often than in the past.
“We need to continue to communicate
with one another, continue to work
together, and for the tribe to understand
the long-term steps we are taking to
develop and expand the assets.”
“People at every level of the tribe,
right down to the marae, need to be
involved and understand what this is
about. Communication is of the utmost
importance, from the top down. Our young
people need to be involved to ensure the
whole operation is based on true transition
and succession.”
On his retirement, Koro says it’s important
to place on record the contribution of the
independent Directors he has worked
with over the years. “I want to especially
acknowledge the time and expertise
they have given, which I have greatly
appreciated.”
Hon. KoroWetere
A lifetime
of service
The Hon. KoroWetere has
served as atribally-appointed
Director onTGH since April
2002, and retires thisyear.
Hewas previously a Member
of Parliament, holdingthe
electorate seat ofWestern
Maori for 27years, andwas
Minister of Maori Affairs
from 1984 to 1990.
1 1
Tainui Group Holdings
Annual Report
2012