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New Zealand Corporate Governance – Trends & Insights 2025

11 December 2025

Our sixth edition of New Zealand Governance – Trends & Insights, first published in 2017, tracks developments in the board composition of the NZX Main Board Top 75, and hot topics for corporate governance in New Zealand.

Key among these, and particularly evident this year, is a rise in shareholder activism. There is a tendency to present this as an aberration, but shareholder rights are an essential design element in any publicly owned equities market, and we expect the activist growth trajectory to gather further speed over the next 10 to 15 years.

Contributing factors included:

  • larger shareholders with deep pockets seeking to increase their stake and influence
  • a continuing flow of small shareholders to the share market, and their ability to mobilise through Sharesies and the New Zealand Shareholders’ Association, and
  • a complex mesh of challenges that businesses will have to negotiate - the AI revolution, environmental, economic and regulatory impacts of climate change, the changing geopolitical environment and what to expect as developed economies, including New Zealand, confront stubborn fiscal constraints and the social pressures they will generate.

We provide a comprehensive analysis of these trends, offering practical insights for boards and executives navigating the evolving landscape of shareholder engagement and regulatory reform.

 

Read our NZ Corporate Governance – Trends & Insights 2025

 

Reform of the governance statutory framework is very much on the agenda for 2026. We hope that directors take full advantage of these reform opportunities to ensure the best outcomes possible

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