About CCHL

CCHL was set up 1993 in response to calls for a confidential independent non-political buffer between the Council and the companies it owned. CCHL therefore ensures that a commercial approach is taken to managing the interface with the Council’s companies.

The Council’s investment in CCHL and its subsidiary companies was independently valued at over $3.1 billion in June 2023. CCHL has a Standard and Poor’s credit rating of AA stable outlook.

The trading companies pay regular dividends to CCHL. In turn, CCHL pays dividends to the Council, allowing the Council to fund other projects.

CCHL functions in relation to existing investments

In relation to the existing portfolio of investments, tasks that CCHL undertakes include:

Reviewing Statements of Intent provided by the CCTOs

Assisting subsidiary boards with community issues

Capital structure review

Reviewing periodic financial reporting by the CCTOs and reporting to the Council

Having strategic discussions with the chairs and boards of those subsidiaries, where appropriate

Making opportunities for subsidiary boards to network and discuss developments in governance practice

Keeping well informed on strategic issues facing the sectors that the subsidiaries operate within

Liaising with the subsidiary companies regarding the appointment of chairpersons

Recommending, through a robust and independent process, director appointments to subsidiary companies

Monitoring business developments

Dealing with other issues as they arise.


CCHL is accountable to the Council through a number of mechanisms, including:

Negotiation of an annual Statement of Intent

Council appointment of directors

Regular reporting to the Council

Publication of six monthly and annual reports

The Council has an interest in ensuring that the region’s strategic assets are operated in a commercial manner, but also in a way that is beneficial for the region as a whole.

Through Statements of Intent, the Council is able to establish broad parameters reflecting the public nature of these assets, but without inhibiting proper commercial management.

CCHL remains committed to the ownership and monitoring role entrusted to it by its shareholder, Christchurch City Council.

Reasons for retaining ownership of the city’s key infrastructure assets include:

Reviewing Statements of Intent provided by the CCTOs

Assisting subsidiary boards with community issues

Capital structure reviews

Reviewing periodic financial reporting by the CCTOs and reporting to the Council

Having strategic discussions with the chairs and boards of those subsidiaries, where appropriate

From a financial perspective, over $1.78 billion of capital and dividend payments have been made to the Council, enabling it to make further major investments in community assets without a significant impact on rates.

The income stream from the CCHL group companies enables CCHL to pay dividends to the Council, hence diversifying the Council’s income and helping reduce.

When CCHL was first set up in 1993, the value of its assets was $170 million. With the subsequent addition of the airport and port a couple of years later, the value came close to $400 million. At June 2022, the group owns assets with a combined value of $5.3 billion, and group equity is over $2.4 billion.


Mission Statement

“Supporting the future growth of Christchurch by investing in key infrastructure assets that are commercially viable and environmentally and socially sustainable”


The core role of CCHL is to monitor the Council’s existing investments, which largely service the regions existing infrastructure needs. The general objective of the CCHL investments are to deliver strong financial returns and dividends to the Council.

To encourage exemplar leadership and governance of our subsidiaries by recommending diverse Boards that have the appropriate mix of industry, sector, strategic, community focus and technical skills.

To ensure the best practice governance procedures are applied to the city's key regional infrastructure and financial investments that are under CCHL's ownership or review.

To assist the Council in implementing the capital release programme.

To build the financial strength of CCHL through appropriately directed commercial investment, in a manner consistent with the approach set out in the acquisition/divestment policy and through efficient financial practices.

To encourage and facilitate the subsidiary and associated companies to increase shareholder value and regional prosperity through growth, investment and dividend payments.

To monitor the performance of each subsidiary and associated company against their stated economic, environmental and social performance objectives and against relevant benchmarks, and endeavour to put proper governance procedures in place.

To identify, in conjunction with relevant parties, present and future regional infrastructural needs, and to support the establishment and maintenance of resilient infrastructure in Christchurch and Canterbury.

To advise the Council on strategic issues relating to its trading investments including, but not limited to, ownership structures, capital structures and rates of return.

To seek, on behalf of the Council, investment opportunities that have the potential to enhance the economic, social, and environmental well-being of the region, to provide an adequate return, and to meet the strategic objectives of the Council. In order to balance these objectives, CCHL may in appropriate circumstances accept a lower return or slower route to profitability.

To encourage intra-group cooperation

To perform financial, custodial and other functions required by the Council which include:

Grouping together the Council’s ownership of its subsidiary companies.

Smoothing the cash flows to the Council from its subsidiary companies.

Monitoring of other subsidiary companies owned directly by the Council.

Separation of the subsidiary companies from the ordinary operations of the Council.

Enabling diversification of the City’s income streams for the benefit of ratepayers.

To promote the Council's Community outcomes (and strategic directions) including good governance, liveable city, strong communities, healthy environment and prosperous economy through the subsidiaries operating culture.

To manage the expectations that some of our subsidiaries are now owned wholly for commercial gain, and that it is not a straight forward matter to determine the optimal mix of commercial and community benefits.

Encouraging CCHL Group subsidiaries to focus on achieving the expectations set out in the shareholder letter of expectation which include:

- Delivering an appropriate return on the shareholders equity investment

- As a publicly owned entity acknowledging the need to show restraint in terms of executive remuneration

- Meeting all obligations under the Health and Safety at Work Act 2015

- Supporting the achievement of environmental sustainability objectives

To promote within the group

Social and corporate responsibility

Rigorous health and safety management and reporting

Sound and equitable employment practices

Environmental sustainability

Innovative practices with specific emphasis on disruptive or new technologies

A community focus

Taking other initiatives at the request of the Council


Gill Cox

Gill Cox

Deputy Chair

NZOM, DistFInstD, CAANZ – Life Member

Appointed April 2023

A Deloitte partner for over 25 years, Gill is a passionate advocate for Christchurch and Canterbury. Gill is currently a director of Venues Ōtautahi Ltd (Chair), Te Kaha Project Development Ltd, Transwaste Canterbury Ltd (Chair), Waimakariri Irrigation Ltd, and a number of privately owned companies.

Bridget Giesen

Bridget Giesen


LLB, BCom, CA, MInstD

Appointed April 2023

Bridget is a strategy and transformation professional with commercial experience from airports, airlines and working in investment roles including at Ngāi Tahu and NZTE. She is currently director at the Nelson Regional Development Agency,
Puketeraki Limited, Wool Impact and Hopkins Farming Group.

Sam Mac Donald

Sam MacDonald


BCom, CA, CMInstD

Appointed February 2023

Elected as a Christchurch City Councillor in 2019, as a chartered accountant, Sam has a background in accounting, audit and infrastructure. Sam chairs the Council’s Finance and Performance Committee, and Insurance Sub-Committee.

Sara Templeton

Sara Templeton


BA, GradDipTchg, MInstD

Appointed 2019

First elected as a Christchurch City Councillor in 2016, Sara holds the Council’s Climate Change Portfolio and has a background in education, sustainability and community initiatives.

Management Team

Paul Silk 1

Paul Silk

Acting CEO

Paul has wide ranging experience working in global financial markets, including trading roles with BNZ, Deutsche Bank and NAB. Prior to joining CCHL as Acting CEO, Paul provided the organisation with commercial advice on a range of social infrastructure projects. A former director of Ngāi Tahu Holdings, Paul has strong relationships across local government and Iwi in Aotearoa New Zealand. Paul has been engaged in an Acting capacity to support CCHL through the Strategic Review following which CCHL will define the CEO role and run a formal process to appoint a permanent CEO.

Cchl Steve Ballard 2023

Steve Ballard


BCA, BA (Hons)

Steve is Group Treasurer at Christchurch City Council and acts as CCHL’s Treasurer under a Service Level Agreement with
Council. He has worked at Council since 2013 and has 30 years’ financial markets experience, having previously worked at Westpac, Transpower, PwC, and the Crown Health Financing Agency.

Kelly Hyde

Kelly Hyde

Head of Impact & Performance


After a decade working with Enable, Kelly joined CCHL to manage the organisation’s reporting, monitoring and external communications. Kelly leads CCHL's Governance work programme and the development of CCHL's Impact Programme.


Holly Darling

Financial Analyst


Since graduating, Holly has held a finance role in the construction industry before joining the CCHL team in October 2020. Holly is responsible for CCHL’s financial administration and assists the CFO and CEO with a range of monitoring and reporting projects across the business.


Appointment Policy

A robust, transparent procedure for the appointment of directors to the Council's subsidiary companies is a key element of good governance.

CCHL has developed a policy to address this area, which has been adopted by Christchurch City Council. The policy can be found on the Christcurch City Council web site
A separate policy, approved by the Council, addresses the appointment of the CCHL Chairperson - CCHL Chair succession planning policy

Board Charter

Download PDF