Finance minister Mathias Cormann has announced who will succeed John Caldon as chair of the Australian Rail Track Corporation.
Cormann announced the appointment of Dr Helen Nugent as the ARTC’s new chair, appointing her for a period of three years.
Cormann was joined by deputy prime minister and minister for infrastructure and regional development Warren Truss to make the announcement on July 16. The pair praised Nugent’s significant executive management and board experience, which they said made her well suited to serve as chair.
“She brings extensive expertise in finance, governance, infrastructure investment, and risk management to the Board,” the pair said in a joint statement.
Nugent’s previous appointments include as Partner at global management consultancy, McKinsey & Company and as Director of Strategy at Westpac. Over the past 20 years, she has served on multiple boards, both private and not-for-profit, including at Swiss Re Australia, the State Bank of New South Wales and Opera Australia, as well as at infrastructure investment entities including United Energy, Macquarie Airports and Macquarie Group.
Nugent was a Menzies Scholar to Harvard University, where she gained her MBA. In 2004, she was made an Officer in the Order of Australia (AO) for services to business, the arts and the community.
She will replace acting ARTC chair Lucio Di Bartolomeo, himself standing in for former full-time chair John Caldon, who held the position of Chair of the ARTC for five years from 2010.
Truss and Cormann thanked Caldon for his service to ARTC over this period.
“Mr Caldon has overseen significant investments aimed at improving the competitiveness of the interstate rail network during his term,” they said. “Mr Caldon has made an invaluable contribution to ARTC and leaves the company well-placed to meet future challenges in the freight rail and broader transportation market. During his leadership, ARTC more than doubled in size since 2010.”