Te Arawa Lakes Trust says that they are forging a new direction following confirmation that the Trust and Chief Executive Gareth Jones have parted ways.
Chairman, Sir Toby Curtis, says the Trust has been reviewing its last 12 months of operations, which has highlighted some areas of concern.
“The decision has been a difficult one for the Trust, but ultimately, the Trustees are confident that it is the right decision for Te Arawa Lakes Trust, its assets and its beneficiaries."
Established in 2006, Te Arawa Lakes Trust (TALT) is responsible for the long-term management of the iwi’s property and financial assets, as well as the protection of the 14 Te Arawa Lakebeds.
The Trust currently has a total of 20,107 registered tribal members, 17,013 of whom are 18 years and over.
For the financial year ending June 30, 2016, the value of the Te Arawa Lakes Trust assets increased by 14% to $33.7 million.