Podcast: Norman Woods – CEO HRV

Podcast

25 Feb

[ E18 ]

In this episode of Co-op Leader Conversations, Norman Woods, CEO of HRV, shares why one of New Zealand’s best-known home ventilation brands chose to shift from a traditional company structure to a cooperative.

HRV has been helping make Kiwi homes healthier since 2003 and says more than 500,000 New Zealanders live in a home with at least one HRV product - making this a standout example of an established, mainstream business choosing a different ownership model.

Norman explains what triggered the ownership conversation when the business was up for sale, why a co-op model aligned strongly with HRV’s purpose and operating structure, and how the team approached a fast acquisition window while designing a governance and membership model built to last.

The conversation also explores common misconceptions about cooperatives (including the idea that co-ops are “informal or slow”), and why HRV believes shared ownership can strengthen alignment, resilience, and long-term legacy.

Conversation themes

Why HRV chose to convert to a cooperative
Ownership as a strategic tool (not a reactive move)
Designing governance and membership rules “design first, paperwork second”
Building alignment across a national network of locally owned territories
Overcoming scepticism through transparency and robust debate
What success looks like post-conversion: strategy, execution, culture, and performance
Co-ops vs franchises: shaping destiny, sustainability, and legacy

Why this matters

This episode offers a rare, practical look at conversion: how an established Kiwi business approached an ownership change when faced with a sale process, and what it learned along the way. It will be especially relevant for boards, CEOs, franchise networks, and advisors interested in succession, alignment, and long-term stewardship, and for anyone curious about co-ops as a mainstream ownership option.

“We moved to a cooperative model to ensure our purpose of ‘making all Kiwi homes healthier together’ is owned by those delivering it every day, with members united by a common mission and running the business for the benefit of customers, teams, and their long-term legacy.”