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SBD Global/September 18, 2013/Finance

Swimming New Zealand Makes Financial Progress During Year Of Transition

Swimming New Zealand "will post a small profit over the past year," according to the NEW ZEALAND HERALD. The organization "was in turmoil," but has "undergone significant change" since an independent whole-of-sport review instigated by Sport New Zealand in mid-'12. They "now have a new chief executive (Christian Renford from Australia), new high performance director (Luis Villanueva from Spain) and new head coach (David Lyles from China)." Swimming New Zealand's financial results "have improved" from a deficit of NZ$120,000 in '11-12 to "a small surplus" of NZ$16,000 in '12-13, "despite heavy expenditure incurred in activating changes required by the review." Swimming New Zealand Chair Brent Layton said, "The board is pleased with its progress in the implementation of the 21 recommendations from the independent review'' (NZ HERALD, 9/17).
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