Roderick Deane

{{Infobox officeholder

| image = Roderick Deane KNZM (cropped).jpg

| honorific-prefix =

| name = Sir Roderick Deane

| honorific-suffix = {{post-nominals|country=NZL|KNZM|size=100%}}

| caption =

| office = Chairman of the State Services Commission

| term_start = 1985

| term_end = 1986

| primeminister = David Lange

| predecessor = Mervyn Probine

| successor = Don Hunn

| birth_name = Roderick Sheldon Deane

| birth_date = {{Birth date and age|df=yes|1941|04|08}}

| birth_place = Auckland, New Zealand

}}

Sir Roderick Sheldon Deane {{post-nominals|country=NZL|KNZM}} (born 8 April 1941) is a New Zealand economist, public servant, and businessman who was influential in public sector reform during the Rogernomics reforms of the Fourth Labour Government. He served as deputy governor of the Reserve Bank of New Zealand during the Third National Government, as Chairman of the State Services Commission and CEO of the Electricity Corporation of New Zealand during the Fourth Labour Government, and as CEO and chairman of Telecom New Zealand after its privatisation.{{Cite book |last=Bassett |first=Michael |title=Roderick Deane: his life and times |last2=Bassett |first2=Judith |date=2006 |publisher=Penguin Group (NZ) |isbn=978-0-670-04567-9 |location=Auckland, N.Z ; New York}}

Education

Born in Auckland, Deane grew up in Ōpunake and went to New Plymouth Boys' High School.{{cite web|url=http://www.nzae.org.nz/awards/fellows/roderick-deane.html|title=Distinguished Fellows – Roderick S Deane|last=Spencer|first=Grant|work=New Zealand Association of Economists|accessdate=19 February 2010|url-status=dead|archiveurl=https://web.archive.org/web/20100526135306/http://www.nzae.org.nz/awards/fellows/roderick-deane.html|archivedate=26 May 2010|df=dmy-all}} He completed a Bachelor of Commerce degree with first-class honours in economics and a doctorate in economics at Victoria University of Wellington in 1968. During his doctoral research, Deane began corresponding with future Reserve Bank Governor Don Brash, forming a friendship that would continue throughout their careers.

Career

=Reserve Bank of New Zealand=

Deane worked at the Reserve Bank of New Zealand, rapidly becoming Chief Economist, then Deputy Governor in 1982. During this period, Deane tended to clash with Prime Minister and Finance Minister Robert Muldoon,{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=2615|title=Hardnosed doctor hard act to follow|last=Braddell|first=Richard |date=17 February 1999|work=The New Zealand Herald|accessdate=19 February 2010}} arguing for more economic liberalisation and sounder economic policies, although Deane described his personal relationship with Muldoon as "cordial" and "civil".{{Citation needed|date=January 2008}} Muldoon twice appointed a Governor to the Reserve Bank in preference to Deane.

Deane served as Alternate Executive Director of the International Monetary Fund from 1974 to 1976. While at the Reserve Bank, Deane published numerous papers on monetary, exchange-rate, and fiscal policy, as well as in the fields of international economics. He led a research-team which developed New Zealand's first macroeconometric model and published many papers in this area. He authored and edited a range of books on monetary policy and financial-sector matters, the external sector and foreign investment. Deane later became the inaugural winner of the NZIER Qantas "Economist of the Year" Award.{{Citation needed|date=January 2008}}

==Currency and constitutional crisis of 1984==

In 1984, with the election of the Fourth Labour government, Deane led those elements within the Reserve Bank calling for a devaluation of the New Zealand dollar. Speculation on international markets that the incoming New Zealand government would devalue the currency led to the Reserve Bank needing to defend the fixed currency in the markets, causing losses of hundreds of millions of dollars. The defeated Prime Minister, Muldoon, refused to devalue the currency; a constitutional crisis ensued, during which the incoming Government directed Muldoon to devalue. During the crisis, Deane took the unprecedented step of closing the New Zealand currency to international trading pending settlement of the dispute.

=State Services Commissioner=

In 1986 Deane became Chairman of the State Services Commission, effectively the head of New Zealand's public service. Along with Minister of Finance Roger Douglas, Deane served as the principal architect of state-sector reform and corporatisation of New Zealand's State-Owned Enterprises. He also oversaw a range of other reforms to the public sector, including changes in the wage determination processes to liberalise these, the re-organization of the public service to reduce substantially the number of public servants and to improve the efficiency of many government departments, and changes designed to improve the clarity of objectives and the enhancement of accountabilities within the public sector. Due to the job losses resulting from these reforms, Deane was named "Dr Death" by union leaders.{{Cite web |last=Neas |first=Ollie |date=August 2021 |title=The High Price of Absolutely Everything |url=https://northandsouth.co.nz/2021/08/26/why-new-zealand-is-so-expensive-power-supermarket-duopoly/ |access-date=5 April 2025 |website=North & South}}

In 1986–87 he was called on to investigate the Māori Loan Affair.

In 1987 Deane became Chief Executive of New Zealand's then-largest state-owned enterprise, the Electricity Corporation of New Zealand (ECNZ), often known as Electricorp. In this role, he oversaw the early deregulation of the New Zealand electricity market. Don Hunn succeeded Deane as State Services Commissioner.

=Telecom Chief Executive=

In November 1992, following the privatisation of Telecom as New Zealand's largest listed company, Deane became Chief Executive of the new entity. Under his tenure, Telecom became the country’s top performing public company as measured by investors’ wealth creation, following restructurings involving significant lay-offs. He held this role until his retirement on 1 October 1999, when he became the non-executive Chairman of Telecom.{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=15072|title=New CEO pushes Telecom's agility|last=Braddell|first=Richard |date=1 October 1999|work=The New Zealand Herald|accessdate=19 February 2010}} In the "Top 200 Corporate Awards", Deane became CEO of the Year in 1994, CEO of the Decade in 1999{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=103944|title=Ex-Telecom chief lauded|date=26 November 1999|work=The New Zealand Herald|accessdate=19 February 2010}} and later Chairman of the Year.{{Citation needed|date=January 2008}}

= Later corporate roles =

Deane also served as Chairman of ANZ National Bank from 1999 and for many years as a Director of the ANZ Banking Group in Melbourne.{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=106641|title=Rod Deane takes over at Fletchers|date=26 December 1999|work=The New Zealand Herald|accessdate=19 February 2010}} In 2001, Deane presided over the break-up of Fletcher Challenge, then New Zealand’s largest conglomerate. He then served as Chairman of Fletcher Building, then New Zealand's largest listed company, until 2010.{{cite web |last=Vaughan |first=Gareth |date=3 June 2009 |title=Waters to chair Fletcher |url=http://www.stuff.co.nz/dominion-post/business/2469124/Waters-to-chair-Fletcher |accessdate=19 February 2010 |work=Stuff.co.nz}} Deane also served as a Director of Woolworths Ltd,{{cite web |title=Biography – Roderick S Deane, (PhD, B Com Hons, LLD Honorary, FCA, FCIM, FNZIM) |url=http://www.woolworthslimited.com.au/phoenix.zhtml?c=144044&p=irol-govBio&ID=163611 |accessdate=19 February 2010 |publisher=Woolworths Limited}} and on the advisory board of Pacific Road Corporate Finance.

From 2000, Deane chaired the Board of the National Museum of New Zealand, Te Papa Tongarewa,{{cite web|url=http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=143027|title=Te Papa's high public appeal set to improve|last1=Small|first1=Vernon|last2=NZPA|date=5 July 2000|work=The New Zealand Herald|accessdate=19 February 2010}} which encompasses what was previously the National Art Gallery. He formed the City Gallery Wellington Foundation and functioned for many years as its chairman. In 2006 Deane announced his resignation from these positions.{{cite web|url=http://www.nbr.co.nz/article/telecom-chairman-deane-retire|title=Telecom chairman Deane to retire|date=15 May 2006|work=The National Business Review|accessdate=19 February 2010}}

Retirement and voluntary activities

Deane and his wife Gillian have been involved in arts philanthropy and served as Joint Patrons of the IHC New Zealand, the country's largest voluntary welfare organisation.

From 2000 to 2003, Deane held a personal Chair as Professor of Economics and Management at Victoria University of Wellington,{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=9231|title=Telecom chief answers Victoria's call|date=1 July 1999|work=The New Zealand Herald|accessdate=19 February 2010}} which awarded him an honorary Doctorate of Laws.

Honours

File:Roderick Deane KNZM investiture.jpg by the governor-general, Sir Jerry Mateparae, in 2012]]

In 1990, Deane was awarded the New Zealand 1990 Commemoration Medal.{{cite book |last1=Taylor |first1=Alister |last2=Coddington |first2=Deborah |authorlink1=Alister Taylor |authorlink2=Deborah Coddington |title=Honoured by the Queen – New Zealand |year=1994 |publisher=New Zealand Who's Who Aotearoa |location=Auckland |isbn=0-908578-34-2 |page=119}} In 2009, he was inducted into the New Zealand Business Hall of Fame.{{cite web |url=http://www.businesshalloffame.co.nz/past-laureates/ |title=Past laureates |website=Business Hall of Fame |access-date=19 February 2023}}

In the 2012 Queen's Birthday and Diamond Jubilee Honours, Deane was appointed a Knight Companion of the New Zealand Order of Merit."[http://www.dia.govt.nz/MSOS118/On-Line/NZGazette.nsf/6cee7698a9bbc7cfcc256d510059ed0b/5f1585403a02c851cc25799400554bb4!OpenDocument The Queen's Birthday and Diamond Jubilee Honours 2012]" (28 June 2012) 74 The New Zealand Gazette 2091.

References

Sources

{{cite book|last1=Bassett|first1=Michael|authorlink=Michael Bassett|last2=Bassett|first2=Judith|title=Roderick Deane: His Life and Times|publisher=Penguin Group|year=2006|isbn=978-0-670-04567-9}}