APA Group have announced the appointment of two non-executive directors, which will take effect from 1 September 2015.
Michael Fraser and Debbie Goodin will soon be appointed the positions.
Michael Fraser has a deep understanding of all facets of the Australian energy industry after more than 30 years’ experience. He has held various executive positions at AGL Energy culminating in his role as Managing Director and Chief Executive Officer for the period of seven years until February 2015. Mr Fraser will be a non-independent, non-executive director.
Debbie Goodin brings to the Board experience as a non-executive director, including as a member and Chair of Board Audit and Risk Committees.
Ms Goodin is currently a director of ASX-listed companies Senex Energy Limited and oOh!media Limited, Adelaide-based Beyond Bank Australia and Victorian government owned City West Water, and chairs the Audit and Risk Committees of three of those Boards.
She also has extensive executive experience in operations and corporate development, including with engineering and professional services firms, and is a Fellow of Chartered Accountants Australia and New Zealand. Ms Goodin will be an independent, non-executive director.
In accordance with ASX Listing Rule 3.16.4, APA advises the following material terms of the appointment of each of Mr Fraser and Ms Goodin:
- Pursuant to the constitution of Australian Pipeline Limited, they will each cease to be directors at the end of the next AGM of the company in October 2015, but are eligible for re-election at that meeting if their nomination is approved by APA securityholders in accordance with APA’s usual procedures; and
- They will each be paid Board fees of $140,000 per annum and the applicable superannuation guarantee levy, and may also be paid Committee fees in the amount set out in APA’s 2015 Remuneration Report if they are appointed to any Board Committee. Those fees will be reviewed annually in accordance with the process described in the Remuneration Report.
As foreshadowed in 2014, Robert Wright, who was appointed to the Board when APA was floated in 2000, is retiring from the Board with effect from close of the 2015 Annual Meeting of security holders on 22 October 2015.