INTERNATIONAL NEWS: New Zealand Stock Exchange hires Shandwick to revamp ailing image

WELLINGTON, NEW ZEALAND: Hoping to counter what it views as a ’lack of balance’ in the media, the New Zealand Stock Exchange has hired the Wellington office of Shandwick - the same company that has had its own share of bad press recently, after threatening legal action against the Public Relations Institute of New Zealand (PRINZ).

WELLINGTON, NEW ZEALAND: Hoping to counter what it views as a ’lack of balance’ in the media, the New Zealand Stock Exchange has hired the Wellington office of Shandwick - the same company that has had its own share of bad press recently, after threatening legal action against the Public Relations Institute of New Zealand (PRINZ).

WELLINGTON, NEW ZEALAND: Hoping to counter what it views as a ’lack

of balance’ in the media, the New Zealand Stock Exchange has hired the

Wellington office of Shandwick - the same company that has had its own

share of bad press recently, after threatening legal action against the

Public Relations Institute of New Zealand (PRINZ).



The NZSE has been criticized of late for the poor performance of the New

Zealand market as well as a possible merger with its Australian

counterpart.



Another complaint is that the organization tends to blame others for its

poor performance.



’All we are saying is that a few people tend to not want to recognize

the things we have done,’ said NZSE chairman Eion Edgar.



Shandwick/Wellington CEO Klaus Sorensen added that the agency hopes to

correct ’a number of misconceptions’ about the exchange, and claimed

that the NZSE had been made ’a whipping boy’ for the poor performance of

many listed companies.



Shandwick’s threat of legal action against the PRINZ prevented the

organization from releasing the results of an investigation into the

agency’s work for state-owned enterprise Timberlands. New Zealand

lobbyist Nicky Hager led the complaints about Shandwick’s tactics, which

reportedly included the creation of a bogus community organization to

support Timberlands’ continued logging of native rimu forest.



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