Gina Rinehart joins Ten board
Network Ten’s board will have four new faces when it meets for the first time after next month’s AGM.
The network revealed tonight that new shareholder Gina Rinehart will be joining the board.
Other new faces around the table will be Lachlan Murdoch and James Packer who surprised the market by buying into the network, and Bruce Gordon representative Paul Mallam.
Ten’s constitution allows for 11 members. The short announcement said:
“The Board of Ten Network Holdings Limited (‘Ten Holdings’ or ‘the Company’) today announced that Gina Rinehart will become a Director of the Company. Mrs Rinehart will join the Board following the Company’s forthcoming Annual General Meeting, which is to be held on Thursday 9 December 2010. Mrs Rinehart is a substantial shareholder in the Company, through the interests held by her and her company, Hancock Prospecting Pty Ltd, as confirmed in a notice of substantial shareholding this week.
“Ten Holdings executive chairman, Nick Falloon, said: “The Board welcomes Mrs Rinehart’s involvement in the Company and is pleased to offer this Board seat as a reflection of her interest as a substantial shareholder.”
Speculation on Rinehart’s intentions has focused on whether she will seek to use Ten as a tool to gain influence to pursue a pro-mining agenda.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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