New chair at PBT unveils vision for economic resilience amid funding boost

The Pacific Business Trust (PBT) has entered a new era under incoming chair Uluomato’otua Saulaulu Aiono, as questions swirl around the timing of the leadership handover and the direction of the government-funded organisation.

With restored funding and a refreshed board, Aiono takes charge at a critical juncture for Pacific businesses navigating economic uncertainty and policy shifts.

Aiono plans to bring “transformational change” to the organisation.

His appointment was announced last week by Minister for Pacific Peoples (MPP) Dr Shane Reti. Aiono succeeds Paul Retimanu, who has completed a three-year term.

But the timing of his appointment has raised questions around the PBT’s communication and succession planning.

The PBT plays a crucial role in supporting more than 2400 Pacific-owned businesses, which generate more than $1 billion in annual revenue. The Trust is dedicated to guiding policies that foster economic recovery and promote long-term outcomes for Pacific communities.

Listen to Ulu Aiono's full interview below.

Recent changes in funding and leadership may show a shift in direction for the Trust. Documents obtained under the Official Information Act (OIA) reveal that the Trust's contract with the Ministry for Pacific Peoples (MPP) increased to $4.8 million for the 2024/25 fiscal year, up from $2.5m in 2022/23.

Aiono was officially announced as chair on 4 November, alongside new board members Nora Swann, a creative entrepreneur who founded the Pacific Fusion Fashion Show, and Lanuola Moe-Penn, a governance leader in early childhood education.

In an interview with PMN News, Aiono says he was approached by the MPP “a few weeks ago” about the role and recognised the critical timing, given the current economic climate.

Business leaders and staff at Pacific Business Trust met with Finance Minister Nicola Willis in September. Photo/Instagram

“It was something that the ministry has been wondering about for a while. As far as I know, the ministry had been thinking about the economic development of Pacific businesses and decided ‘it’s time’,” he says.

“Many people would say that right now our country and its people are in the middle of a growing poverty crisis, and very few of us at any level of our society in this country fully understand or can work out what the root cause of that is.”

While there had been discussions about appointing a new chair, there was no mention of these impending changes during the Pacific Business Trust Awards in mid-October.

Danilo Coelho de Almeida, Deputy Secretary at the Ministry for Pacific Peoples, confirmed in a statement that Aiono’s appointment followed the standard process:

“Cabinet approved the appointment of Uluomato’otua Saulaulu Aiono as Chair on 28 October. The outgoing Chair, Paul Retimanu, whose term had come to an end, was formally advised the following day as part of the standard appointment process,” de Almeida’s statement read.

“As part of the process, Ministry officials engaged with a number of suitable candidates. At the time of the Pacific Business Trust Awards, the appointment had not yet been confirmed through Cabinet, so no public comment was made.”

From left: The Cause Collective chair Dr Uluomato'otua Saulaulu Aiono, Health Minister Simeon Brown, Chief Executive Leasiosiofa'asisina Rachel Enosa at the PHO Awards on 17 October 2025. Photo/Supplied

Retimanu was due to finish his three-year term in August 2025 and reportedly had only two days’ notice before his replacement. While the PBT website was updated in the following days, an official announcement from Minister Reti did not come until 4 November.

Aiono says Retimanu offered him valuable advice during their conversation on his last day as chair. “He very graciously rang me on Friday afternoon and we had a talk for about 20 minutes, and his response was to pay attention to the regions.”

Retimanu did not respond to PMN’s request for comment.

Sudden change or strategic shift?

The change in leadership suggests a potential shift in focus for the organisation. Aiono brings extensive business and governance experience, having founded the software company COGITA and served on boards such as the Pacific Island Chamber of Commerce, the Salvation Army, and Rise Up Academy.

He was appointed an Officer of the New Zealand Order of Merit for contributions to business in 2012 and received an Honorary Doctor of Commerce from the University of Otago in May this year.

Aiono outlined the importance of building financial resilience to safeguard the Trust against future changes in government policy.

“One of the fragilities of organisations like the Pacific Business Trust, whether it’s in economic development or health or housing or employment, is that funding is very much exposed to government policy and government budgets.

Uluomato’otua Saulaulu Aiono is prepared to bring 'transformational change' to the Pacific Business Trust. Photo/File

“So the most difficult thing is to build a balance sheet that enables it to do what the board wants, whether the government changes and government policy changes,” he says.

He says he is focused on “shocking change” rather than business as usual, citing halted social housing projects in Northland as an example.

“I’m not talking about business as usual, I’m talking about transformation. Pacific Business Trust must lead that sort of change in Pasifika businesses that already exist, and ones that are yet to come,” he says.

“That's what I know that our Pasifika people in this country need from their Pacific businesses. They want them to do new stuff, and they want them to provide for all the things that the families need, and their customers need.”

With restored funding and a refreshed board, the Pacific Business Trust now faces both opportunities and pressures to deliver results under its new leadership.

Disclaimer: Uluomato’otua SaulauluAiono was chair of the National Pacific Radio Trust from 2011 to 2017.