Political scandals often start as comedies before morphing into tragedies, and so Michael Wood may lose his beloved transport portfolio because he failed to sell a handful of shares. Still, Auckland Airport has prospered as a private company, delivering its shareholders a more than 630% return on investment over the past 20+ years. Prime Minister Chris Hipkins revealed on Wednesday that Wood was asked 12 times to sell the shares since November 2020. Companies themselves keep track of who owns what shares, and Auckland Airport’s share register is maintained by Link Market Services. Redemption possiblePrime Minister Chris Hipkins has left the door open for Michael Wood to be restored to the role of Transport Minister once he had sold the shares and corrected his disclosures.

Source: New Zealand Herald June 08, 2023 02:44 UTC