Board of Directors

John Loughlin

MBA, BCA, FCA, FNZIM, ANZIIF (Fellow), AFInstD, INFINZ (Fellow)

Mr Loughlin is the Chair of the Powerco Board.

He is a professional Company Director and Chair of the Meat Industry Association of NZ Inc, EastPack Ltd, Rockit Global Ltd, Hop Revolution Ltd and Carbine AgInvest Corporation Ltd. He is also a Director of the New Zealand International Business Forum and the New Zealand China Council.

In his executive career, Mr Loughlin was Finance Manager of Richmond Ltd before becoming the company's Chief Executive. Before holding those positions, he was an institutional fund manager. Mr Loughlin and his wife Kathryn established and own Askerne Estate Winery.

Mr Loughlin was appointed to the Powerco Board in 2013.


Paul Callow

BSc, IoDNZ

Mr Callow is a professional Director and Consultant with more than 30 years’ experience in financial, commercial and engineering roles. He spent 13 years with Deloitte as a Partner in the Wellington Corporate Finance Practice and led the firm’s Energy Sector Group in New Zealand. He has extensive advisory experience in the energy sector, both in New Zealand and internationally.

Prior to Deloitte, Mr Callow was a Project Director at Asiapower Developments Ltd, responsible for electricity generation project origination and development in India, Thailand and other parts of Southeast Asia. Mr Callow holds a degree in mechanical engineering from the University of Birmingham.

He is a Director on other private companies and is a Chartered Member of the Institute of Directors. Mr Callow was appointed to the Powerco Board in September 2016.


Philip Cory-Wright

BCA/LLB (Hons)

Solicitor High Court (NZ and Victoria), Chartered Fellow NZ Institute of Directors

Philip is now a professional company director and business advisor. He has specialised in long-life essential assets. He joined the Powerco Board from 1 October 2019. He is also a director of Papa Rerangi I Puketapu (New Plymouth Airport - chair), Matariki Forests, NZ Local Government Funding Agency, and South Port NZ.

Previously, he was a solicitor at Bell Gully and then a corporate advisor with Southpac and Macquarie Bank. He advised Powerco on most of its transactions as it moved from being a New Plymouth power company to being the 2nd largest gas and electricity distribution network company in New Zealand.

More recently since he left Macquarie, he has advised QIC (Powerco), Auckland Airport (Cairns Mackay Airports and Queenstown Airport), Restaurant Brands (purchase of Hawaii Taco Bell and Pizza Hut) and Higgins Family (sale to Fletchers).


Michael Cummings

BEng, MIPENZ, MInstD, GAICD

Mr Cummings is a Partner and Global Co-Head of Asset Management with AMP Capital’s Infrastructure Equity business. He also leads the Australian & NZ Infrastructure Funds team, as well as being a Director of Endeavour Energy, Australian Pacific Airports Corporation (Melbourne and Launceston airports), Opal Aged Care and is the Chairman of Evergen (an Australian-based intelligent solar battery start-up business).

Before joining AMP Capital, Mr Cummings was the Chief Operating Officer (Energy) at Brookfield Infrastructure. This involved international governance roles as the Chair or Director on a number of company boards around the world, including NGPL and Cross Sound Cable in the US, the International Energy Group in the UK, DBP and WA Gas Networks in Western Australia and the Tasmanian Gas Pipeline.

With more than 30 years’ experience in the infrastructure sector, Mr Cummings is a Graduate Member of the Australian Institute of Company Directors and a member of the Institute of Directors NZ and the Institution of Professional Engineers NZ.

Mr Cummings was re-appointed to the Powerco Board in 2013, having previously been a Director between 2008-2012 when working for Brookfield (and its predecessor BBI).


Sam Pearce

Bachelor of Science, Bachelor of Laws, Masters of Business Administration

Mr Pearce has around 25 years of industry experience in the energy and utilities sectors, spanning operations, investment management, corporate development and strategy and transaction execution responsibilities.

He has worked in merchant energy, gas distribution, power generation (gas and renewables) and electricity and gas transmission primarily in Australia and New Zealand. Mr Pearce has established and managed several energy investment vehicles – bringing in co-investors, acquiring and developing assets and providing both investment management and operational services to those vehicles. He has built a reputation for helping businesses develop and grow, fostering deep relationships with co-investors and other key stakeholders, and leading operational and corporate teams.

Mr Pearce was appointed to the Powerco Board in May 2020.


Stasha Prnjatovic

BCom (Hons 1), GAICD

Ms Prnjatovic is Investment Director with AMP Capital Infrastructure Equity, responsible for asset management of AMP Capital’s energy investments in Australia and New Zealand. She has 15 years of experience in both listed and unlisted infrastructure markets, having previously worked in transactions, asset management and equity research.

Before joining AMP Capital in 2017, Ms Prnjatovic was a Director with NSW Treasury where she led A$34 billion privatisation of the state’s electricity networks TransGrid, Ausgrid and Endeavour Energy. She had responsibility for asset management of the state’s electricity assets portfolio prior to the commencement of the privatisation process.

As an Equity Analyst with Citigroup Global Markets, Ms Prnjatovic was responsible for the coverage of Australian and New Zealand listed utility and infrastructure companies.

Ms Prnjatovic is an Alternate Director of Endeavour Energy and was appointed to the Powerco Board in 2018.


Michael Bessell

BEc, LLB (Hons), GradDipAppFin, GAICD

Alternate Director for Stasha Prnjatovic

Mr Bessell is a Partner in AMP Capital’s Global Infrastructure Equity business where he is also Head of Origination and Separately Managed Accounts. He leads AMP Capital’s Australian and New Zealand origination team and also has responsibility for AMP Capital's $5 billion customised accounts infrastructure business.

Mr Bessell has more than 27 years of investment banking and investment experience, with a focus on mergers and acquisitions, equity raising and developing infrastructure projects as a sponsor or principal across all infrastructure subsectors. He has worked in Europe and North America and has led teams undertaking investments in Europe, Australasia and North America. During the past five years, his team has transacted and executed investments with an enterprise value of more than $5 billion.

He is a member of both the AMP Capital Infrastructure Investment Committee and the Alternative Assets Investment Committee, is on the Global Infrastructure Management Committee and serves as a Director of a number of investee companies.

Before joining AMP Capital in 2006, Mr Bessell served as a Director at NM Rothschild & Sons (Australia) Ltd and worked for Schroders in Australia and the United Kingdom. Mr Bessell holds a Bachelor of Law (Honours) and a Bachelor of Economics, both from the Australian National University, and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia. He is also a Graduate Member of the Australian Institute of Company Directors.

Mr Bessell was appointed to the Powerco Board in April 2015 and is now the Alternate Director for Stasha Prnjatovic.


Angela Karl

BCom (Hons 1), LLB (Hons 1)

Alternate Director for Sam Pearce

Ms Karl has over 20 years of industry experience, she joined QIC in 2012 and is a Partner in the QIC Global Infrastructure (GI) team.

She is focused on the power and utilities sector within QIC GI’s broader infrastructure portfolio. Prior to joining QIC, Ms Karl had 11 years of investment banking, corporate advisory and transaction experience at both JPMorgan and UBS Investment Bank, with her most recent role as Australasian Head of Power & Utilities Advisory at UBS.

During her time in banking, Ms Karl advised on over 100 corporate transactions including mergers and acquisitions and capital raisings for Australasian corporates, predominately in the utility sector. She is also a Director of Powering Australian Renewables, a Director of Lochard Energy and an Alternate Director of Nexus Hospitals.

Ms Karl was appointed to the Powerco Board in 2013 and is currently the Alternate Director for Sam Pearce.


Patrick Mulholland

BPhty, BCom (Hons)

Alternate Director for Paul Callow

Mr Mulholland is a Principal in the QIC Global Infrastructure team which he joined in 2012. He currently has responsibility for leading new investment and origination efforts in Australia for the Energy and Utilities sector. He has over 15 years of experience in mergers and acquisitions, equity and debt financing, corporate advisory, asset management and infrastructure investment.

Mr Mulholland is currently a Director of Ocean Sparkle (India's leading port operations and marine services company) and is an Alternate Director on QIC’s Pacific Energy investment (specialising in remote power generation). He was formerly an Alternate Director on the Thames Water investment entity Board.

Prior to commencing at QIC, Mr Mulholland was a Vice President in J.P. Morgan's Investment Banking division where he was responsible for leading J.P. Morgan's Australian transportation and related infrastructure corporate advisory. During this time in banking, he advised on over 30 M&A, debt and equity transactions worth more than $30 billion which included 16 successfully completed transactions.

Last Updated: 25 Aug 2020 - 12:45:23