Michael Wood is Face of The Day after being effectively sacked for lying to the Prime Minister and failing to disclosed other conflicts of interest.
Michael Wood has quit as a Cabinet minister after it emerged he had more shareholding interests in areas that clashed with his portfolios.
Prime Minister Chris Hipkins confirmed Wood’s resignation today, saying he became aware of the fresh issues yesterday.
It has emerged Wood held further shares in Chorus, Spark and the National Australia Bank, further to his Auckland Airport shares, that have since been disclosed to Hipkins.
Wood’s failure to manage the conflicts of interest was “beyond frustrating”.
The bank shares weren’t disclosed when the Cabinet discussed a possible market study into the banking industry. That was despite repeated requests from Hipkins and others for Wood to disclose his shares.
“New Zealanders expect and deserve very high standards from their ministers,” Hipkins said.
Hipkins said he was frustrated and angry at the revelations.
NZ Herald
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