Steven Joyce named director of the year for governance leadership

Steven Joyce has been named the director of the year by Investors Association New Zealand, formerly the NZ Shareholders Association, as part of its 2026 Beacon Awards.

The awards are presented annually to individuals and teams in New Zealand’s business community who demonstrate leadership, bravery and respect while championing equitable outcomes, outstanding governance, and the rights of all shareholders.

Investors Association New Zealand (IANZ) recognised Joyce for his “pragmatic and principled approach” to independent governance during 2025 and 2026, with two clear examples of actions supporting the interests of investors.

In August this year, Joyce and fellow independent director of Winton Land, Guy Fergusson, sought constitutional protections that would give minority shareholders a direct say in board representation and provide a mechanism for independent advocacy on behalf of the company and all its shareholders.

When those protections were not supported by the majority shareholder, they publicly explained their fundamental disagreement over governance expectations, and chose to relinquish their positions as independent directors.

Investors Association New Zealand, formerly the NZ Shareholders Association, CEO Oliver Mander praised Joyce for championing director independence. Photo / NZME

IANZ chief executive Oliver Mander said the significance of the pair’s action extended beyond resignation.

“They proposed a practical means of strengthening minority-shareholder representation and made clear why effective director independence matters, in the context of a company controlled by a majority shareholder,” Mander said.

“Their transparency in setting out their resignations affirmed that the responsibilities of a listed-company board extend to every shareholder, regardless of the size of their investment.”

Joyce was also commended for his work since being appointed chairman of New Zealand Herald publisher NZME, which he assumed in June 2025 following a contested board transition.

Mander said his appointment formed a “diplomatic bridge” between major shareholder activists and minorities, reducing the probability of further shareholder discontent.

IANZ noted that during his tenure, Joyce had adopted an Editorial Advisory Board charter that defined its role, required a diversity of political perspectives and preserved the division of responsibilities between the advisory board, directors and management.

Steven Joyce during NZME’s annual shareholders meeting in 2025. Photo / Dean Purcell

IANZ chairman Sam Dixon said the Beacon Awards formed a key part of the association’s efforts to celebrate effective governance, noting Joyce’s ability to lead by principle and transparency as reasons deserving of recognition.

Joyce is also an independent director of The Icehouse, Icehouse Ventures and Foodstuffs North Island.

Joyce is a former Finance Minister for the National Party.

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.