Veritas Investments’ board has appointed Tim Cook as its independent chairman.

Cook has been acting chairman since June 30 and has been a director of Veritas since December 2011. He is currently chair of Veritas’ audit and remuneration committees.

Cook is also chairman of Auckland City BMW, Mini Auckland, and Rolls Royce Motor Cars Auckland. He is chairman of Safersleep NZ and Safersleep USA, and chairman of the Auckland Heart Group, NZ’s largest private cardiology practice. He is a director of MyWave Ltd and MyWave Holdings, Cook Executive Recruitment and NZAX listed VMob Group.

His earlier management career includes senior retail and operational management roles in the supermarket, retail, franchising, food and fashion industry sectors.

From 2006 to 2011 he was a director of NZX listed Charlies Group, where he was a member of the finance and audit committee and chair of the remuneration committee. He was heavily involved in its sale to Asahi Group for $129 million in 2011.

Richard Sigley, Veritas’ non-independent director, has advised the board of his intention to resign from the board at the conclusion of the company’s next annual general meeting, currently scheduled for November 12. Sigley joined the Veritas board following the acquisition of The Better Bar Company in 2014, of which he was major shareholder and chairman. Sigley is also the major shareholder and CEO of the Nourish Restaurant Group, whose iconic brands include Euro, Crab Shack, Jervois Steak House and Shed 5.

Sigley has advised the board that he needs to commit more time to the Nourish Restaurant Group as it expands, but will remain as an advisor to Veritas, focusing on its bar businesses. He remains a very committed and long-term substantial shareholder in Veritas.

The board will now commence a search for up to two new directors to join the Veritas board.