Hancock’s John Klepec to replace Gina Rinehart on Ten board

TenThe Ten Network has today confirmed that Gina Rinehart with resign from the board of the TV Network with John Klepec, chief development officer of Rinehart’s Hancock Prospecting, to take her place as a director.

The move comes after last month’s annual report for Ten showed Rinehart had not attended any of the 11 board meetings held in the last financial year, with Klepec her replacement for ten of those meetings.

In a statement executive chairman and managing director, Hamish McLennan, thanked Rinehart for her contribution and support as a director of the company since December 2010: “It has been a very great pleasure working with Mrs Rinehart and I have appreciated her commitment and our discussions. I look forward to her ongoing involvement.”

Rinehart remains a substantial shareholder in Ten holding some 256m shares worth some $56m. The share price was up marginally this morning to 22.25 cents up 2.5 per cent.

Nic Christensen 


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