Governing for growth

On Monday, 11 August 2025, MinterEllisonRuddWatts held its 22nd annual Corporate Governance Symposium for directors and senior executives at the Pullman in Auckland.

The Symposium began with a welcome from MinterEllisonRuddWatts Partner Mark Forman who introduced the topic for discussion at this year’s symposium: ‘Governing for growth’.

Mark set the scene by suggesting that New Zealand’s future success will rely on its ability to boost productivity and spark innovation, which will in turn depend on strong governance and leadership in the private sector.

Then followed a panel discussion moderated by MinterEllisonRuddWatts Partner Sarah Salmond and featuring four highly regarded members of New Zealand’s business community: 

• Sir Peter Gluckman, an internationally recognised biomedical scientist, and current head of Koi Tū Centre for Informed Futures. Sir Peter was the first Chief Science Advisor to the Prime Minister of New Zealand;
• Susan Peterson, a professional director on the boards of Vista Group International, Mercury Energy, Xero and Craigs Investment Partners;
• Sir Ian Taylor, the founder and managing director of Dunedin-based company Animation Research, and one of New Zealand's foremost technology innovators; and
• Cecilia Robinson, the founder and creator of My Food Bag, and the founder and Co-CEO of Tend Health.

Eight top takeaways

• Diagnosing the productivity gap: New Zealand's productivity lags due to low R&D (1.4% of GDP vs 2.7% OECD median), limited global ambition, and short-term policy thinking. Bold investment, structural reform, and a shift toward exporting ideas are needed to catch up.
• Competing for capital and talent: Winning capital requires trust, clarity, and strong governance. Attracting talent means paying for performance, offering global career pathways, and ensuring diverse, future-focused leadership.
• Climate and sustainability: Green innovation boosts both sustainability and productivity. Clean energy, smart farming, and biodiversity protection are emerging as competitive advantages for New Zealand - but policy must support, not stall, this shift.
• Embracing technology: New Zealand's scale and connectivity are strengths. Boards must embrace AI, data, and digital infrastructure to build a truly tech-enabled economy.
• Positioning globally: New Zealand must export ideas, not just goods. Global relevance depends on investing in science, lifting tech capability, and partnering internationally - especially in biotech, data, and land-use innovation.
• Driving enterprise value: Boards must act with purpose and speed, especially in crisis. Aligning leadership to context and linking innovation to execution are key to long-term value.
• Reimagining healthcare: Health spending is rising, but outcomes lag. Digital access, AI, and a shift to preventative care are essential to system reform and workforce sustainability.
• AI and the future of work: AI is a productivity tool, not a job killer. It’s time to embed it in education, agriculture, and business - and prepare people to thrive alongside it. 

In summary

New Zealand stands at a pivotal moment in its history – facing well-known challenges, but also brimming with opportunity. The call to action is clear: directors and business leaders have a vital role to play in shaping a future defined by innovation, productivity and global relevance. 

By investing boldly in R&D, health and education, and by embracing technology and talent, we can unlock new growth. 

Governance that is purposeful, agile and forward-thinking will be the catalyst for change. The private sector has the power to lead – by fostering diverse leadership, championing sustainability and driving value. 

Now is the time to seek out possibilities, govern with courage and build a future where New Zealand doesn’t just keep pace, but sets the pace.

Special thanks to Sir Peter Gluckman, Susan Peterson, Cecilia Robinson, Sir Ian Taylor and everyone else who contributed to this important discussion about shaping New Zealand's future.