Problems surrounding CBL Insurance might drive the Kiwi EY Entrepreneur of the Year title away from the insurer’s managing director Peter Harris, it has been revealed.
In October, Harris was named as the country’s entrepreneur of the year for 2017 and, as part of the award, he was due to compete for the title with winners from more than 50 countries.
However, according to a report in the Australian Financial Review, EY New Zealand is looking at whether to revoke the award won by CBL’s boss.
In its report, the publication quoted EY’s statement to Kiwi press: “Under the terms and conditions of the [entrepreneur of the year] program ... the New Zealand award can be revoked if a participant has, or is alleged to have, engaged in actions that would adversely reflect on the program.
“We remain supportive of the independent NZ judging panel which made its decision in October 2017, based on the financial and other information supplied by the nominee.”
As for his part, Harris has reportedly “sensibly withdrawn” from the global competition to be held in Monaco in May.
Moreover, the report said EY’s Entrepreneur of the Year awards are highly coveted in Australia and that they tend to ensure their winners a healthy dose of supportive media coverage. “But while the previous winners’ lists are generally a roll call of business success, a far few have instead run into serious difficulties soon after their moment of glory,” it said.
The publication has named some winners and nominees as examples:
