Walker said in August that buying Zeffer was a deliberate step in E Tipu’s apple strategy.
“This acquisition activates the next stage of our apple strategy, moving our horticulture business into processing.”
He said in a media release at the time that everything E Tipu did was for post-settlement governance entity Tātau Tātau’s 11,000 members, and “adding value to the fruit we grow is how we build long-term returns for them”.
NBR reported last week that all five resignations had come amid differences over reporting and information sharing with the iwi trust.
It said the resignations followed E Tipu’s $2.25 million purchase of Zeffer, “a deal trust chair Pieri Munro says came as a surprise and highlighted wider concerns about whether trustees were getting enough information to properly oversee the iwi’s investments”.
In a statement to Hawke’s Bay Today, Munro said there had been suggestions that the directors’ decision to resign was due to the purchase of Zeffer.
“I want to be clear that this is not the case. The matters that led to the directors’ decision pre-date the Zeffer acquisition,” Munro said.
“We are disappointed to see the directors step down.
“Collectively, they bring significant skills, experience and knowledge, and their contribution to E Tipu and Tātau Tātau O Te Wairoa has been valued.”
He said its priority was now to ensure stability across the commercial operation and support the process of strengthening and re-establishing the E Tipu board.
“We remain focused on protecting the long-term interests of Tātau Tātau O Te Wairoa and ensuring our commercial assets continue to be managed responsibly and with a clear focus on long-term value.”
The resignation of five E Tipu directors was effective as of September 30, and the Tātau Tātau board met on September 25, 2026, to consider transitional directors and advisers.
Subject to completion of the formal appointment processes, resolution of any conflicts of interest, and agreement on supporting terms of reference, the proposed transitional appointments were Lee Gray, transitional director and chair; Rangi Manuel, transitional director; Benji King, transitional director; and Moana Rongo, trustee adviser.
The proposed transitional appointments would take effect until May 23, 2027, the next review date under the E Tipu Constitution.
During this period, work would also progress on recruiting and appointing a permanent E Tipu board.
LDR is local body journalism co-funded by RNZ and NZ On Air.