New Zealand news November 1, 2012

Stephen Boock named NZC president

ESPNcricinfo staff

Stephen Boock, the former New Zealand Test spinner, has been named the new president of New Zealand Cricket. His appointment was announced at the New Zealand board's annual general meeting in Wellington on Thursday.

Boock replaces Denis Currie, who had served out the maximum three one-year terms as president. After a 17-year first-class career, which included 74 Test wickets from 30 matches, Boock had served on the New Zealand board from 2002, and comes with a business background.

NZC also appointed current Northern Districts Cricket Association chairman Greg Barclay its director, replacing Brent King. Current NZC board chairman Chris Moller was re-elected to the post, after the board selection panel recommended he retain it.

Following the meeting, NCZ said in a release that they had had a 'better than expected financial year'. They reported a deficit of NZD$1.87m (USD$1.54 approx) that was offset against reserves, leaving a closing balance sheet equity position of NZD$7.97m (USD$6.55 approx).

Chief operating officer Craig Presland said: "Without an ICC event in 2011-12 we knew this was going to be difficult year financially. The forecast was for a budgeted deficit of $7.30m but we actually showed a significant improvement over that.

"A ground breaking eight-year sponsorship and media rights agreement with Pitch International, along with a two-year domestic rights agreement with SKY TV, were the major reasons for a better than expected financial result.

"Our current 2012-13 financial year includes the recently concluded World Twenty20, along with the Champions Trophy and an inbound England tour, and we are expecting to return a small surplus."