Seven Group Holdings’ (SGH) chief executive officer Ryan Stokes and chief financial officer Richard Richards have been appointed as non-executive board directors at Boral.
As part of Boral’s board renewal, four new non-executive directors have been appointed, with each standing for election at Boral’s annual general meeting on 27 October 2020.
SGH has a 19.9 per cent stake in Boral, with SGH managing director and chief executive officer Ryan Stokes and SGH chief financial officer Richard Richards both being appointed as nominees for Boral’s board.
Stokes has been a SGH executive director since February 2010 and chief executive officer since 2015. He is also a chairman of Coates Hire, and a director of WesTrac, Beach Energy and Seven West Media.
SGH chief financial officer Richard Richards has also been appointed to the board and has previously served as deputy chief financial officer at Downer EDI.
Former CSR managing director and chief executive officer Rob Sindel and former MIM Holdings, Queensland Cotton and Aurizon chief financial officer Deborah O’Toole have also been appointed as independent non-executive directors at Boral.
Boral chairperson Kathryn Fagg said Boral was seeking directors with extensive industry experience.
“Together with my fellow directors, we are very pleased to welcome Rob, Deborah, Ryan and Richard to Boral’s board,” she said.
“I look forward to working with them all and drawing on the wealth of expertise that they each bring to the board.”
Fagg will also be standing for re-election at the annual general meeting alongside Paul Rayner, who joined the board in 2008.
“After two years as Boral’s chairman, I will be seeking shareholders’ support to continue in the role and I will work to provide leadership stability through this period of renewal.
“We are looking forward to completing the portfolio review that is currently underway, and then re-setting the business to deliver stronger performance and value for our shareholders.”
“Paul Rayner will stand for re-election at this year’s annual general meeting to facilitate a smooth transition of the chairmanship of the audit and risk committee and is expected to retire during this next term of office.”
Boral directors John Marlay and Eileen Doyle have also announced they will retire from their roles at the company’s annual general meeting.
“On behalf of the board, I thank both John and Eileen for their substantial contribution to Boral, including as respective chairs of the remuneration and nomination committee and the health, safety and environment committee of the board,” Fagg said.
“The appointment of four new non-executive directors and retirement of three existing directors, represents a significant level of Board renewal and sets us up well for the future.”