Seven appoints new directors
Seven Group Holdings has brought in three new independent directors to the company’s board.
The annoucement:
Seven Group Holdings Limited (Seven) today announced the appointment of three new independent directors to the company’s board.
Mr Terry Davis, the Group Managing Director Australia for Coca-Cola Amatil Limited, Mr Chris Mackay, the Co-Founder and Chief Investment Officer for Magellan Financial Group Limited, and Mr Richard Uechtritz, recently the Chief Executive Officer for JB Hi-Fi Limited, join an expanded board of directors at Seven.
Mr Davis, Mr Mackay and Mr Uechtritz join current independent directors Mr Peter Ritchie AO, Professor Murray Wells and Mrs Dulcie Boling on an expanded board for Seven Group.
The appointment of new directors was foreshadowed in the Explanatory Memorandum to Shareholders for the scheme of arrangement to create Seven Group Holdings through the merger of Seven Network Limited and WesTrac Holdings.
The appointment of the three new independent directors was announced today by the Executive Chairman of Seven, Mr Kerry Stokes AC.
“We set out to ensure a strong board for Seven,” Mr Stokes said. “Today’s appointments add further depth and strength to our company. The calibre of candidates for what was originally proposed to be two new directors was such that we have decided to take the opportunity to bring in an additional independent director and deliver a board on which there are six independent directors out of twelve.”
“The track records of Terry Davis, Chris Mackay and Richard Uechtritz are impressive and speak for themselves. We are delighted that they have joined our company.”
The board has appointed the three new independent directors as casual appointees to the board ahead of the first Seven Annual General Meeting to be held later this year. These directors will then stand for re-election at that meeting. As previously announced, interests associated with Kerry Stokes will abstain from voting on the reappointment of those directors at that meeting.”
Source: Seven press release
