Chorus appoints Paul Reid as director: what it means for Chorus stock

Published on 10/07/2026 at 05:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The vote is set for November 4, 2026, after Reid's October 1 start. Chorus stock is valued at NZD 3.6 billion on October 7, 2026.

CNU, NZCNUE0001S2, Illustration mit AI erstellt.

Chorus Limited appointed Paul Reid as an independent director effective October 1, 2026, while shareholders will vote on the appointment at the annual meeting on November 4, 2026. As The Globe and Mail reported on September 30, 2026, Reid will join the People, Performance & Culture Committee.

What the board change means

Reid brings more than 30 years of executive and board experience, according to The Globe and Mail. His appointment follows the planned retirement of director Jack Matthews and gives the November vote a direct governance angle.

The board change comes after Chorus reported fiscal 2026 operating revenue of NZD 1.03 billion, up NZD 15 million from fiscal 2025. Kapitales Research reported that EBITDA increased 3.00 percent to NZD 726.0 million and net profit rose to NZD 37.0 million from NZD 4.0 million in fiscal 2025.

Fiber growth supports cash flow

Operational figures also point to a continuing shift toward fiber infrastructure. Chorus ended fiscal 2026 with 1.147 million fiber connections, representing 96.00 percent of total connections, while uptake across serviceable addresses reached 75.90 percent.

Operating cash flow increased 4.00 percent to NZD 740.0 million in fiscal 2026, and the company approved a final dividend of NZD 0.36 per share. The same report said Chorus expects fiscal 2027 EBITDA of NZD 730.0 million to NZD 760.0 million and capital expenditure of NZD 375.0 million to NZD 415.0 million.

Annual vote sets the next marker

The November 4, 2026 annual meeting will give shareholders a formal vote on Reid's appointment. The NZX announcement also confirms that the final fiscal 2026 dividend of NZD 0.36 per share was payable on October 6, 2026, linking the governance timetable with a completed distribution event.

Chorus trades primarily on the NZX under ticker CNU. The prior close at Lang & Schwarz was EUR 4.12 for October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Chorus stock.