Aurizon Limited today announced that the Board has agreed to appoint Mr Tim Poole as a new independent non-executive director and Chairman-elect of the Company.
Mr Poole will formally become a director of Aurizon on 1 July 2015, and will assume the chairmanship on the retirement of the present Chairman Mr JB Prescott AC on 1 September.
Mr Prescott said: “Tim brings proven, highly relevant and impressive credentials to the Board of Aurizon”.
“He has an outstanding track record in operationally and financially complex businesses. He is highly experienced in large capital intensive projects, multi-national joint ventures and corporate finance, particularly in infrastructure and regulated industry environments.
“Tim’s success in leading large institutional investment organisations reflects both his strategic insight and analytical skill as well as a strong focus on good corporate governance and creating value for shareholders,” Mr Prescott said.
Mr Poole’s appointment follows the Company’s decision last year to form a Nomination and Succession Committee to evaluate the Board’s future requirements, develop a new strategy for Board renewal and a timetable for succession including the orderly transition to a new Chairman.
“The smooth transition to a new Chairman reflects our plan to ensure we have the right calibre of leadership around the Board table and within the business, and that we have the right balance of skills, experience, diversity and operational capabilities to implement our strategy,” Mr Prescott said.
Mr Poole’s appointment involved the development of a detailed specification for the role, a comprehensive local and international search conducted in conjunction with a major independent search firm and interviews of short-listed candidates by each of the Company’s non-executive directors.
“I am delighted to be joining Aurizon as it enters the next stage of development” Mr Poole said.
“The Company has transformed in the last decade under John’s leadership. I am looking forward to working with the Aurizon team to deliver value for shareholders.”
Further background: Mr Tim Poole – Chairman Elect Aurizon Holdings Limited
Mr Poole began his career in 1990 at Price Waterhouse before a long and successful period (1995 to 2007) helping to build Hastings Funds Management where he became Managing Director in 2005.
Mr Poole is currently chairman of the investment committee of AustralianSuper, chairman of infrastructure debt investor Westbourne Capital and chairman of Lifestyle Communities Limited. He is also a non-executive director of Newcrest Mining Limited, McMillan Shakespeare Limited and Japara Healthcare Limited.
He was formerly chairman of Asciano Limited (2007 to 2009) and formerly a non-executive director and treasurer of Victorian Racing Club Limited (2006 to 2014).
Mr Poole holds a Bachelor of Commerce from University of Melbourne and is a Member of the Institute of Chartered Accountants.