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Media Release

Updated: Dec 6, 2019

The Board of Cook Islands Investment Corporation (CIIC) announced today

that Petero Okotai has officially resigned from his post as CEO effective 26th

November 2019.

[27 November 2019]

Petero has been CEO, managing the Crown Controlled entities arm of the

Corporation for the last 2 years, and in that time has seen the creation of Avaroa Cable

Limited, To Tatou Vai and overseen improvements in corporate governance, with the

passing of the corporate enterprise policy and corporate governance policy, the

professionalization of SOE boards with the NZ Institute of Directors as well as organizing

executive development for public and private sector with the Oxford business school

negotiations program held in early 2018.

In his statement, Petero explained “it's been an honour for me to lead CIIC these last

two years but it is apparent that I need to take some time to focus on my health and

family, which I have neglected for too long. In doing so I cannot effectively lead CIIC

full-time, which is what the position demands.” He adds ”whilst it pains me to leave

CIIC, especially at this juncture, I have faith in the staff and board of CIIC to handle the

ambitious work program we have underway now and in the coming years.”

The Board of CIIC advise that Tamarii Tutangata who has been managing the Asset

Management arm of the Corporation will step in to act as CEO in the coming

year. Tamarii was also previously the sole head of the Corporation, a role he held for 7

years, and has held other Head of Agency roles across the Cook Islands Government.

Tamarii was also previously the Director General of the South Pacific Regional

Environment Program (SPREP) as well serving as the Deputy Director General of the

SPC (Secretariat of the Pacific Community).

The Chairman of CIIC Michael Henry comments “the board appreciate and value the

role Petero has played in growing and managing the corporation these last two very

challenging years. The board supports what we acknowledge is a very difficult decision

he has made but are united in our belief that ensuring we are managing the health of

our staff and management is a key aspect of business, family and life in general. The

board and staff of CIIC wish Petero and family all the best, and thank him for his

contribution to the achievements of the Corporation.”

The Chairman of CIIC Michael Henry also added that the “Corporation is staffed with a

competent executive team, management team, and staff to continue to deliver results

for the Government and nation”.

The Cook Islands investment corporation is a statutory entity established in 1998 to

manage all Crown assets and effectively govern statutory entities (such as the Airports

and Ports Authorities, Avaroa Cables Ltd, To Tatou Vai Ltd, TAU and BCI) on behalf of

Cabinet and the Crown.

[Enquiries: Please contact Tamarii Tutangata Telephone 29391, email:

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