14 August 2025
New Director appointed to TLC Board
The Waitomo Energy Services Customer Trust (WESCT) has announced the appointment of a new director, Sophie Spedding, who will replace Craig Richardson following his resignation. Craig’s term will officially conclude at the end of September.
WESCT Chair William Oliver acknowledged Craig’s significant contribution to The Lines Company.
“Craig brought strong financial acumen and a wealth of knowledge across many business sectors. His insights and dedication have been invaluable, and he will be greatly missed,” said Mr Oliver.
The appointment follows a competitive selection process, with over 30 high-calibre applicants expressing interest in the role. “We were incredibly impressed by the quality of candidates, which we believe is a testament to the hard work and progress made at TLC in recent years,” Mr Oliver added.
Sophie Spedding, who is based in Auckland, brings more than 15 years’ experience in the financial sector spanning tax, consultancy, corporate finance, and investment banking.
Sophie offers strong commercial acumen, proven stakeholder management skills, and experience across diverse sectors, including regulated industries. She is a Chartered Accountant and was recently a Future Director on the NZX Board.
In particular, Sophie brings valuable insight from her investment banking career, where she has worked with a range of technology companies, including those undergoing digital transformation. She offers strong project management expertise and an understanding of risk frameworks, which will support TLC in advancing its Digital Utility Programme.
Mr Oliver said the Trust is excited to welcome Sophie to the board.
“She is an emerging governance leader with a thoughtful and constructive approach. Sophie is passionate about contributing to the continued success of TLC and the communities it serves.”
Board Chair Bella Takiari-Brame also acknowledged the transition, “On behalf of the TLC Board, I want to sincerely thank Craig for his outstanding service and commitment. His financial expertise and steady guidance have been deeply valued. We’re also thrilled to welcome Sophie. Her experience and fresh perspective will be a great asset as we continue to evolve and serve our communities.”
Sophie’s appointment reflects WESCT’s ongoing commitment to strong governance and community-focused leadership.
WESCT owns 100% of The Lines Company (TLC) on behalf of its beneficiaries, making TLC 100% community-owned. WESCT has approximately 10,000 beneficiaries, primarily residing in or around Te Kūiti, Ōtorohanga, Piopio, Mangakino, and Mōkau. The Trust is composed of six Trustees, who are elected by beneficiaries for a four-year term.
