DIRECTORS OF CORPORATIONS – AUSTRALIA – APPOINTMENTS AND RETIREMENTS

MinRes losses last person on board ethics committee

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Original article by Mark Wembridge
The Australian Financial Review – Page: 27 : 24-Apr-25

Iron ore and lithium producer Mineral Resources is under futher scrutiny after the resignation of a third independent director in the last week. Denise McComish has stepped down from the board with immediate effect, following the recent departure of Jacqueline McGill and Susie Corlett. The three women had solely comprised Mineral Resources’ ethics and governance committee, which had been established in late 2024 in response to a series of scandals involving MD Chris Ellison. The debt-laden company will also shortly have to appoint a successor to outgoing chairman James McClements.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

Former Foxtel chief executive Tonagh to join Nine board

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Original article by Kylar Loussikian
The Australian Financial Review – Page: 13 : 15-Jan-25

Nine Entertainment’s chair Catherine West says media industry veteran Peter Tonagh will be a valuable addition to the group’s board. Tonagh was previously the deputy chairman of the ABC; he is also a former CEO of both News Corp Australia and pay-TV company Foxtel. Nine is also believed to have recruited another former Foxtel executive, Amanda Laing; she is said to be set to be given oversight of Nine’s broadcast operations. Nine’s shares fell by nearly 40 per cent in 2024, although the stock has gained about four per cent so far in 2025.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD

Ex-Nine CEO moving into the ABC hot seat

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Original article by James Madden
The Australian – Page: 1 & 2 : 18-Dec-24

The ABC has advised that Nine Entertainment’s former CEO Hugh Marks will succeed David Anderson as the public broadcaster’s managing director. The appointment of Marks follows an extensive domestic and international search for Anderson’s replacement, after he resigned in March after just one year of his second five-year contract. The ABC’s chairman has praised Marks, saying he is the the right person to lead the public broadcaster as it pursues renewal and investment. Marks says the ABC needs to broaden its audience reach; he will take up the role in March.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Ellison’s delayed exit will harm undervalued MinRes share price

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Original article by Mark Wembridge, Tom Rabe, Peter Ker
The Australian Financial Review – Page: 13 & 17 : 6-Nov-24

Sources close to Mineral Resources have suggested that MD Chris Ellison may continue to be either directly or indirectly involved with the company after he steps down within the next 18 months. Bradley Watson from Bell Potter notes that Ellison is the largest shareholder in MinRes, and there could be speculation about the future of his stake in the company when he leaves. Other market observers believe that the relatively long leadership transition could weigh on the company’s share price.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, BELL POTTER SECURITIES LIMITED

Female directors have no financial impact on businesses: ANU review

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Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 7-May-24

A research paper from the Australian National University’s Crawford School of Public Policy has concluded that a company’s financial performance is not affected by the gender of new appointments to its board. The research paper is based on an analysis of 1,721 non-executive directors who were appointed by 2,483 listed companies between 2000 and 2016. The authors found that the appointment of a female director to the board had no significant impact on a company’s share price in the days following the announcement. However, 30% Club chair Nicola Wakefield Evans has questioned the validityh of the findings, noting that the proportion of female directors at ASX-listed companies has risen strongly since 2016.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF PUBLIC POLICY, 30% CLUB

Female directors have no financial impact on businesses: ANU review

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Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 7-May-24

A research paper from the Australian National University’s Crawford School of Public Policy has concluded that a company’s financial performance is not affected by the gender of new appointments to its board. The research paper is based on an analysis of 1,721 non-executive directors who were appointed by 2,483 listed companies between 2000 and 2016. The authors found that the appointment of a female director to the board had no significant impact on a company’s share price in the days following the announcement. However, 30% Club chair Nicola Wakefield Evans has questioned the validityh of the findings, noting that the proportion of female directors at ASX-listed companies has risen strongly since 2016.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF PUBLIC POLICY, 30% CLUB

Buttrose to quit ABC as contenders circle

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Original article by Sophie Elsworth, Nick Tabakoff
The Australian – Page: 3 : 23-Aug-23

Peter Tonagh is widely regarded as the leading internal contender to succeed Ita Buttrose as the ABC’s chair. Buttrose has advised that she will not seek a second five-year term as the public broadcaster’s chair when her current term expires in March 2024. Communications Minister Michelle Rowland says Buttrose was "the right chair for the right time". Tonagh is currently the ABC’s deputy chair, while other potential candidates are said to include former Foxtel CEO Kim Williams and lawyer Danny Gilbert. Meanwhile, former Q+A host Stan Grant has confirmed that he has left the ABC and intends to make a permanent departure from "daily journalism" after four decades in the media industry.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS, FOXTEL MANAGEMENT PTY LTD

Tech titan wins AGL board fight

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Original article by Perry Williams
The Australian – Page: 13 & 14 : 16-Nov-22

AGL Energy’s shareholders have endorsed the appointment of all four of Grok Ventures’ nominations for the company’s board. Software entrepreneur Mike Cannon-Brookes became AGL’s largest shareholder earlier in 2022 via his private company. AGL will now have a nine-person board of directors, prompting fund management veteran and AGL shareholder Geoff Wilson to suggest that changes to the board are likely. However, AGL chair Patricia McKenzie has ruled out stepping down. Meanwhile, more than 25 per cent of shareholders voted against AGL’s remuneration report, putting the company at risk of a board spill if there is a similar backlash at its 2023 AGM.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, GROK VENTURES

Swan as new Cbus chairman an ‘insult to workers’: CFMEU

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 2 : 8-Sep-21

The Construction, Forestry, Maritime, Mining & Energy Union has described the appointment of former Labor minister Wayne Swan as chairman of industry superannuation fund Cbus as the "height of hypocrisy". The CFMMEU says the appointment is an "insult to construction workers", given Swan’s role in maintaining the building industry watchdog during his tenure as federal treasurer and deputy prime minister. The union has also suggested that there is a conflict of interests due to Swan’s role as Labor’s national president.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND

Business brains bolster ABC board

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Original article by James Madden
The Australian – Page: 19 : 17-May-21

Media industry veteran Peter Tonagh is one of three new appointments to the ABC’s board. The former CEO of Foxtel was recommended by the public broadcaster’s independent nominations panel, as was the former MD of the Seven Network’s Perth station, Mario D’Orazio. Communications Minister Paul Fletcher personally chose Fiona Balfour to fill the third vacancy on the ABC’s board; she has extensive experience across a range of business sectors. All three will have five-year terms at the ABC.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FOXTEL MANAGEMENT PTY LTD, SEVEN NETWORK LIMITED, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS