AusRAIL, Market Sectors

Aurizon announces board renewal plans

<span class="" id="parent-fieldname-description"> Aurizon has announced it will accelerate plans for the development and renewal of its board, and will have a new chairman by the end of the financial year. </span> <!–[if gte mso 9]><xml> <o:DocumentProperties> <o:Revision>0</o:Revision> <o:TotalTime>0</o:TotalTime> <o:Pages>1</o:Pages> <o:Words>172</o:Words> <o:Characters>984</o:Characters> <o:Company>Informa Australia</o:Company> <o:Lines>8</o:Lines> <o:Paragraphs>2</o:Paragraphs> <o:CharactersWithSpaces>1154</o:CharactersWithSpaces> <o:Version>14.0</o:Version> </o:DocumentProperties> <o:OfficeDocumentSettings> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]–> <!–[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> 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UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]–> <!–[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal" mso-tstyle-rowband-size:0 mso-tstyle-colband-size:0 mso-style-noshow:yes mso-style-priority:99 mso-style-parent:"" mso-padding-alt:0cm 5.4pt 0cm 5.4pt mso-para-margin-top:0cm mso-para-margin-right:0cm mso-para-margin-bottom:10.0pt mso-para-margin-left:0cm line-height:115% mso-pagination:widow-orphan font-size:11.0pt font-family:Cambria mso-ascii-font-family:Cambria mso-ascii-theme-font:minor-latin mso-hansi-font-family:Cambria mso-hansi-theme-font:minor-latin} </style> <![endif]–> <!–StartFragment–> <p class="MsoNormal"><span style="line-height: 1.5em">The Queensland-based operator says it is making the moves following an ongoing review program, which suggested succession in recognition of “the growing complexity of the company’s activities and its potential growth.”</span></p><p class="MsoNormal"><o:p></o:p></p> <p class="MsoNormal">Aurizon’s board has established a nomination and succession committee, separate from its existing remuneration committee, and has also appointed an external firm to assist in the renewal and succession process.<o:p></o:p></p> <p class="MsoNormal">Aurizon Chairman John Prescott said: “The initial focus of the new committee will be assessment of the board’s future requirements in terms of skills and experience, and a suitable timetable for the Board renewal implementation. <o:p></o:p></p> <p class="MsoNormal">“This is an important time in Aurizon’s development and I am committed to ensuring the requisite support and stability for the company during the board renewal process and the transition to a new chairman.&quot</p><p class="MsoNormal">Prescott said his successor was expected to be in place by the company’s 2015 AGM.</p>