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[July 2009]
Board Changes at Boral
Boral Ltd (Sydney, NSW, Australia) has announced that Dr Bob Every has been appointed Deputy Chairman of the Board. Dr Every joined the Boral Board in September 2007.
Dr Ken Moss, Boral’s Chairman, is seeking re-election at the 2009 Annual General Meeting (to be held on 28 October 2009). Assuming he is re-elected, Dr Moss intends to remain as Chairman until May 2010. This will provide continuity during the change of CEO at Boral (which is scheduled to occur at the end of this year) and enable Dr Moss to provide assistance to the incoming CEO while that person gets established in the role.
In May 2010, Dr Moss intends to retire as Chairman and from the Board, at which time Dr Every will assume the Chairmanship of Boral.
Dr Moss said: “After 10 years as Chairman of Boral, the time will be right for me to stand down from the Board in May 2010 and for Bob to assume the role of Boral’s Chairman at that time. This transition will provide for an orderly succession in respect of the Chairman’s role while at the same time providing continuity during the change of CEO. Bob is a very capable and well respected Director, with significant operational experience in the building and construction materials industry, and will serve shareholders well as Chairman of Boral”.
Another of Boral’s long-standing Directors, John Cloney, has announced that he does not intend to seek re-election at the 2009 Annual General Meeting. Mr Cloney has been a member of the Board since 1998.
Dr Moss said: "Over the past 11 years, John has made a significant contribution to the governance and direction of the Company. John has been a long-serving member of the Board’s Remuneration Committee and has chaired the Committee since December 2003. John will retire at the end of the Annual General Meeting on 28 October. Along with my fellow Directors, I wish John all the very best and thank him for the valuable contribution he has made".
Mr Cloney’s position as Chairman of the Remuneration Committee will be assumed by Dr Brian Clark with immediate effect.
www.boral.com.au
ENDS