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Boral announce Board changes

Kathryn Fagg

Company announces retirement of Dr Brian Clark and appointment of Kathryn Fagg as chairman

BORAL Ltd have announced the retirement of chairman and non-executive director Dr Brian Clark, who stepped down on 30 June 2018 due to health reasons. Non-executive director Kathryn Fagg has succeeded Dr Clark as chairman, with effect from 1 July 2018.

Dr Clark, who has been a director of Boral since 2007 and was elected chairman in November 2015, said: ‘It has been a great privilege to have served on the board for the past 11 years, including the past two-and-a-half years as chairman.

‘To have been part of the major transformation of Boral into a more international construction and building materials company, with significantly improved prospects for growth, working alongside chief executive officer Mike Kane since 2012, has been a highlight of my time with Boral.

‘While it was my intention to retire before the end of my current term, as I foreshadowed at the 2017 AGM, I have brought my retirement forward so that I can focus on my health.’

Ms Fagg (pictured), who joined the board in September 2014, is a highly experienced company director and former senior executive. She has more than 25 years’ executive and management experience across a range of industries in Australia and Asia.

Dr Clark said: ‘I will retire from Boral in the full knowledge that the company is in extremely capable hands under the stewardship of Kathryn as chairman.’

On behalf of the board, Ms Fagg thanked Dr Clark for his considerable contribution to Boral: ‘Brian’s service and contribution to Boral, including as chairman, has been invaluable,’ she said. ‘We thank him for his dedication and the legacy he leaves at this important time in Boral’s history. We wish him a happy retirement with a return to full health.

‘I look forward to continuing to engage with stakeholders and to provide considered and robust stewardship of Boral in my new role as chairman. I am committed to the long-term creation of value for all of our stakeholders and will work with my fellow directors and Boral’s executive team to deliver this.’

Meanwhile, as part of Boral’s ongoing board renewal programme, Peter C Alexander has been appointed as the company’s first North American-based non-executive director, effective 1 September 2018.

Mr Alexander is a seasoned former chief executive with more than 28 years’ senior executive experience in US building materials and distribution, technology products and services.

Dr Clark said: ‘I am pleased to announce the appointment of Mr Alexander to the board, which is the outcome of a rigorous international search and assessment process. Peter’s experience and knowledge of the North American building and construction markets, combined with his experience in business integration, operations, capital allocation and technology, will serve the board well.

‘His appointment recognizes the skills and experience that we need going forward in light of Boral’s expanding North American Division, which now represents around one-third of Boral’s business and is continuing to grow at a solid pace.’

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