Infratil chair holds the summit while Sanford and Skellerup directors climb

The NOVEMBER 2026 results of our boardroom performance measurement service

Infratil was hit hard in October, but its chair, Alison Gerry, still sits at the top of The Boardroom Table’s ladder. Further down, every director at Sanford and Skellerup moved up.

Strong leadership despite changing growth outlooks 

Infratil’s shares fell to a six-month low in October as investors turned on data-centre stocks. Matt Goodson, managing director of Salt Funds Management, said the sector had suddenly landed in the sin bin, raising questions about its growth outlook. “There’s been nothing specific involving Infratil, and CDC is in a better position than most with very long contracts with hyperscalers” he said. The valuation tells a similar story. On October 7, Infratil reported an independent valuation of its roughly 49.7% stake in Australian data-centre operator CDC at A$9.17 billion, down A$45 million, or under 0.5%, from June. CDC as a whole is now valued at about A$18.45 billion.

Alison Gerry, who also sits on the Air New Zealand board, did not move. She has held first place for most of the past six months, bar a brief swap with Mark Verbiest in September. Her Infratil colleague on the ladder, Anne Urlwin, slipped three places to 12th. Urlwin’s ranking also reflects her seat at Precinct Properties, where all three of the company’s directors on the ladder fell.

Steady gains from Sanford and Skellerup
The month’s strongest gains came from two other boards. Every director we track at Sanford and Skellerup rose, with the five of them together gaining 27 places.

The highest-ranked of the five is Sanford’s Chair Sir Robert McLeod. He rose five places to 11th. McLeod has chaired Sanford since 2019 and has been on its board since 2016. He also joined the Port of Tauranga board in July 2024. 

David Mair, who sits on both boards, made the biggest climb on The Boardroom Table, up seven to 26th. John Strowger, a Sanford director and Skellerup chair, rose six to 31st. Skellerup director Alan Isaac also rose six, to 40th, and Sanford director Tony Carter gained three, to 69th.

Sanford’s lift follows Japanese seafood group Umios agreeing on October 27 to buy Ngāi Tahu’s remaining 10.3% stake. The 9.64 million shares were priced at $7.47 each, a 22% premium to the last close, for a total of $72 million. Umios’s holding rises from 5.2% to 15.5%, and Ngāi Tahu exits as shareholder after five noteworthy years. Sanford’s shares rose more than 10% over the month.

Skellerup’s shares slipped 2.56% over the same period, but its directors still climbed. Prior to the company's annual shareholder meeting, Chair John Strowger said “FY27 has started well, with Q1 net profit after tax (NPAT) up 15% on the prior comparative period”. He pointed to strong demand while keeping an eye on geopolitical risk. 

What comes next
As investors are becoming more cautious about data centres and AI, the coming months will test how the directors of AI exposed industries will hold their positions against the climbers at Sanford and Skellerup. Follow The Boardroom Table’s monthly ladder to see who holds and who moves.