State of the Market: Board and Executive Movements for March 2016

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

Blenheim Partners is an elite international Executive Search and Board Advisory firm. We specialise in top-level Executive Search, Non- Executive Director Search, and Board Performance Consulting.

Founded in 2012, our team has acted as specialist adviser to many of the world’s leading corporations on Board and Executive performance, capability and succession planning.

Our clients come from all sectors and a broad range of geographies. They include over 70 of the ASX 100, 10% of the FTSE 100, Private Equity, Multinational, Private Family and Mutually Owned Companies.

Our work is highly international with over 90% of our assignments global in scope.

Our philosophy is to develop deep and committed relationships with a small number of clients and help them deliver a superior performance by optimising the composition of their Board and Executive team.

Confidentiality

This report and the information contained in it are confidential and proprietary information belonging to Blenheim Partners. The report contains confidential and proprietary information based on data from public and private sources, including Blenheim Partners’ proprietary database of information. The recipient will not use or disclose, or permit the use or disclosure of, this Report by any other person or for any other purpose. The information contained in this report is preliminary in nature and subject to verification by Blenheim Partners. Blenheim Partners does not guarantee its accuracy or completeness.

Blenheim Partners Pty Ltd ABN 21 160 009 236 |Level 14, 9 Castlereagh St, Sydney NSW 2000 |p +61 2 9253 0950 | w blenheimpartners.com ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

COMMERCIAL SERVICES

ALS Ltd: Nerolie Withnall will retire as Chairman of the Board at the conclusion of the AGM on 26 July 2016. The Board has elected Bruce Phillips to be the new Chairman, effective from the close of the 2016 AGM.

Cleanaway Waste Management Ltd: Tony Roderick, the Managing Director of the Liquids and Industrial Services business will be leaving the Company on 31 March 2016.

Slater & Gordon Ltd: Bryce Houghton has been appointed as Company Secretary to replace Moana Weir who has resigned as Group General Counsel and Company Secretary.

Smartgroup Corporation Ltd: Deborah Homewood has been appointed as an Independent Non-Executive Director, effective 9 May 2016.

ENERGY

AusNet Services Ltd: Mr Ng Kee Choe will retire as Chairman and Director, effective 11 May 2016 and Peter Mason has been appointed as Chairman, effective on this date. Peter has also been appointed as an Independent Non-Executive Director, effective 18 March 2016. Mr Tan Chee Meng has been appointed as a Non-Executive Director, effective 11 May 2016.

AWE Ltd: David Biggs has been appointed as Chief Executive Officer and Managing Director, effective early May 2016. Bruce Clement, current Chief Executive Officer and Managing Director will be leaving the Company in September 2016.

Beach Energy Ltd: Jim McKerlie and Phillip Bainbridge have been appointed as Non-Executive Directors. Belinda Robinson and Robert Cole have resigned from the Board. Kathryn Presser has resigned as Company Secretary, effective 16 March 2016.

Marmota Energy Ltd: Kevin Wills has been appointed as Chief Consulting Geologist.

3 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

Meridian Energy Ltd: Sandra Pickering has been appointed as General Manager – Information Communications and Technology, effective in July to replace Glen McLatchie. Alan McCauley, GM Meridian Retail has resigned, effective at the end of March.

Senex Energy Ltd: John Warburton has been appointed as an Independent Non-Executive Director.

Spark Infrastructure: Paul Italiano has been appointed as the Chief Executive Officer of TransGrid.

White Energy Company Ltd: Hans Mende has advised he intends to resign as a Director of the Company effective 31st March 2016.

FINANCIAL SERVICES

AMCIL Ltd: Siobhan McKenna has been appointed as a Non-Executive Director, effective immediately.

ANZ Banking Group Ltd: Joyce Phillips, Group Executive Wealth, Marketing and Innovation will be leaving ANZ. Effective 12 March, Alexis George will be Managing Director Insurance, following the formation of the Insurance, Superannuation and Investments activities into one business. Maile Carnegie has been appointed as Group Executive Digital Banking, effective July 2016.

ASX Ltd: Elmer Funke Kupper has resigned as Managing Director and Chief Executive Officer, effective immediately. Rick Holliday-Smith has been appointed as Executive Chairman.

BT Investment Management Ltd: Brad Cooper will step down as a Non-Executive Director. Les Vance has been appointed as a Non-Executive Director of the Company.

Colonial Holding Company Ltd: Diane Lumsden has resigned as a Company Secretary, effective 24 March 2016.

Commonwealth Bank of Australia: Jane Hemstritch has retired from the Board, effective 31 March 2016. Catherine Livingstone has been appointed to the Board as an Independent Non-Executive Director.

4 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

Equity Holdings Ltd: JA (Tony) Killen OAM will not seek re-election at the next Annual General Meeting.

Genworth Mortgage Insurance Australia Ltd: Jonathan Downes has resigned as Company Secretary, with effect from 10 March 2016. Luke Oxenham has been appointed Company Secretary and Brady Weissel as Assistant Company Secretary.

Magellan Financial Group Ltd: Hamish McLennan has been appointed as a Non-Executive Director.

Millinium’s Alternatives Fund: Henry Capra has been appointed as a Director of Millinium Capital Managers Ltd. Perry Hume resigned as a Director of Millinium on 14 March 2016.

PM Capital Global Opportunities Fund Ltd: Ashley Pittard will be leaving PM Capital, effective 12 April 2016.

Preferred Capital Ltd: Diane Lumsden has resigned as Company Secretary, effective 24 March 2016.

GAMING

Aristocrat Leisure Ltd: Arlene Tansey has been nominated as a Non-Executive Director effective 31 March 2016, subject to receipt of all relevant regulatory pre-approvals.

INDUSTRIAL/MANUFACTURING

CMI Ltd: Steve Miotti has been appointed to the Board as an Independent Non-Executive Director to replace Jeff Forbes.

5 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

INSURANCE

AMP Ltd: Geoff Roberts will join the Board as a Non-Executive Director, effective 1 July 2016. Brian Clark and John Palmer have announced their intention to retire from the Board at the conclusion of the 2016 Annual General Meeting on 12 May.

Australian Unity Ltd: Glenn Barnes has retired as a Director and Chairman of the Board of Australian Unity Limited and Peter Promnitz has been appointed Chairman of the Board with effect from 30 March 2016.

IAG Finance (New Zealand) Ltd: Elizabeth Bryan AM has been appointed to the Board and elected as Chairman, effective 31 March 2016 to replace Brian Schwartz AM who will retire on that date. Elizabeth has also been appointed as Chairman of Insurance Australia Group Ltd, effective 31 March 2016.

Medibank Private Ltd: Craig Drummond has been appointed as Managing Director and Chief Executive Officer, effective 4 July 2016. David Koczkar, Chief Operating Officer has been appointed as Acting Chief Executive Officer, effective 1 April when George Savvides current Managing Director and Chief Executive Officer retires.

NIB Holdings Ltd: Donal O’Dwyer has been appointed as an Independent Non-Executive Director.

QBE Insurance Group Ltd: Rolf Tolle has been appointed as a Non-Executive Director, effective 11 March 2016.

MEDIA

APN News & Media Ltd: Jane Hastings has resigned as Chief Executive Officer of NZME effective 8 April 2016. Current Chief Financial Officer Michael Boggs will be her replacement.

OPUS Group Ltd: Richard Celarc, Executive Chairman has been appointed as Group Chief Executive Officer. Cliff Brigstocke has been appointed as Managing Director (Sales and Marketing).

6 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

Pacific Star Network Ltd: Michelle Guthrie has resigned as a Director.

REA Group Ltd: Peter Tonagh will step down from the Board, effective 22 March 2016. Susan Panuccio has been appointed to the Board as nominee of News Corp Australia.

Seven West Media Ltd: Warwick Lynch has been appointed as Chief Financial Officer.

Ten Network Holdings Ltd: Peter Tonagh appointed as a Non-Executive Director, effective 30 March 2016. Richard Freudenstein resigned as Non-Executive Director, effective 30 March 2016.

MINING

ABM Resources NL: Helen Garnett has tendered her resignation as Non-Executive Director with immediate effect. Mike Etheridge has retired from the Board effective 8 March 2016. Concurrently, Brett Lambert, formerly Interim Chief Executive Officer, has been appointed to the Board as Managing Director. Susie Corlett has been appointed as a Non-Executive Director of the company.

Cardno Ltd: Robert Prieto and Gary Jandegian have been appointed as Independent Non-Executive Directors.

Iluka Resources Ltd: David Robb, Managing Director and Chief Executive Officer will be leaving the Company, effective in the second half of 2016.

Medusa Mining Ltd: Boyd Timler has been appointed as Chief Executive Officer, effective 21 March 2016.

Metals X Ltd: Andrew Ferguson has resigned from the Board, effective 23 March 2016.

7 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

NRW Holdings Ltd: Following the announcement at the 2015 Annual General Meeting, that Ian Burston will retire once a suitable appointment is made to the Board, he has elected to move to a Non-Executive Director role as part of the transition agreement. In the interim, effective 9 March 2016 Michael Arnett will assume the role of Chairman.

Regis Resources Ltd: Nick Giorgetta will retire as a Director of the Company effective 29 April 2016.

Rio Tinto Ltd: Richard Goodmanson, Non-Executive Director will be retiring from the Board, effective 5 May 2016. Sam Walsh, Chief Executive and Director will retire effective 1 July 2016. He will be replaced by Copper and Coal Chief Executive Jean-Sebastien Jacques who has in the interim been appointed as Deputy Chief Executive, effective immediately. Chris Salisbury has been appointed as Acting Chief Executive Copper and Coal.

Sedgman Ltd: Robert McDonald, Director and Chairman and Russell Kempnich, Non-Executive Director have resigned from the Board, effective 14 March 2016. Adolfo Valderas has been appointed as Chairman.

Sovereign Gold Company Ltd: Charles Thomas has been appointed as Chairman. Simon Bird has retired from the Board. Rocco Tassone has been appointed as Acting Chief Executive Officer. Rocco Tassone has been appointed as Managing Director.

Syrah Resources Ltd: Antonio Assis has been appointed as General Manager – Sales and Marketing, effective in April 2016.

Troy Resources Ltd: Fred Grimwade, Acting Chairman has been appointed as Chairman.

Watpac Ltd: Brad Bowton has resigned as a Director.

PHARMACEUTICALS/HEALTH CARE

Alchemia Ltd: David Lamm has been appointed to the Board as a Non-Executive Director.

8 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

Capitol Health Ltd: Kim Hogg has resigned as Company Secretary, effective 1 April 2016. The Company’s Legal Counsel and Company Secretary, Jennifer Currie, continues in her role.

Estia Health Ltd: Jonathon Pearce has been appointed as an Alternate Director.

Fisher & Paykel Healthcare Corporation Ltd: Lewis Gradon has been appointed as Managing Director and Chief Executive Officer, effective 1 April 2016. Andrew Somervell has been appointed Vice President - Products & Technology.

Healthscope: Ziggy Switkowski AO has been appointed as a Non-Executive Director, effective 4 April 2016.

Primary Health Care Ltd: Henry Bateman, General Manager Medical Centres will be leaving the Company. John Houston has been appointed as General Manager of the bulk billing division and Maxine Jaquet has been appointed as General Manager of the new private billing division.

Sigma Pharmaceuticals Ltd: Christine Bartlett has been appointed as an Independent Non-Executive Director, effective 30 March 2016 and will also be a member of Sigma’s People and Remuneration Committee.

Sirtex Medical Ltd: Mike Mangano, President Americas Region will be leaving the Company at the end of the financial year.

PROPERTY

Aveo Group: Anna Wyke has been appointed as Joint Company Secretary, effective 18 March 2016.

Investa Office Fund: Nicole Quagliata has been appointed as IOF’s Assistant Fund Manager.

Scentre Group: Dick Warburton AO LVO will retire as a Director of Scentre Group at the conclusion of the AGM held on 5 May 2016.

United Overseas Australia Ltd: Kong Sze Choon has resigned as an Alternative Director, effective 8 March 2016.

9 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

RETAIL/CONSUMER

Asaleo Care Ltd: Nils Lindholm will resign as a Director of the Company, effective 26 April 2016.

Bellamy’s Australia Ltd: Patria Mann and Charles Sitch have been appointed to its Board of Directors effective 10 March 2016.

Elders Ltd: Nina Abbey has resigned as Joint Company Secretary. Sanjeeta Singh has been appointed as Joint Company Secretary.

Fantastic Holdings Ltd: Debra Singh has been appointed Group Chief Executive Officer Retail, effective 30 March 2016.

Fonterra Co-operative Group Ltd: Maury Leyland has resigned as Managing Director, People Culture and Safety, effective 31 March.

Godfreys Group Ltd: John Hardy has been appointed as a Non-Executive Director.

Kathmandu Holdings Ltd: Ben Ryan has been appointed as General Manager – Product, following the resignation of Michelle Adams.

Ridley Corporation Ltd: Ridley today announces the retirement of Professor Andrew Vizard from the Ridley Board.

Surfstitch Group Ltd: Group Chief Executive Officer and Managing Director, Justin Cameron has resigned with immediate effect. Lex Pederson and Justin Stone have been appointed as Joint Chief Executive Officers and Managing Directors, effective immediately.

Temple & Webster Ltd: Mark Tayler has been appointed as Interim Chief Financial Officer, effective 18 April 2016. Stephen Heath has been appointed as a Non-Executive Director. Mark Coulter has been appointed as Chief Operating Officer. Deborah Kelly has resigned as Chief Financial Officer, effective 31 March 2016. Brian Shanahan will assume responsibility as Chief Financial Officer.

Webster Ltd: Maurice Felizzi has been appointed as Chief Financial Officer and Company Secretary, effective 18 April 2016 to replace Andrew Reilly.

10 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

TECHNOLOGY/TELECOMMUNICATIONS

Altium Ltd: Joe Bedewi has been appointed as Chief Financial Officer.

Infomedia Ltd: Richard Leon has been appointed as Chief Financial Officer, effective 29 March 2016, following the resignation of Russel King who will depart the Company 22 April 2016.

Reckon Ltd: Marianne Kopeinig has resigned from the position of Assistant Company Secretary effective 31 March 2016.

Telstra Corporation Ltd: Kevin Russell has been appointed as Group Executive Retail to replace Karsten Wildberger who will finish on 31 March 2016. Stephen Elop has been appointed as Group Executive Technology, Innovation and Strategy, effective 4 April 2016.

TRANSPORT/LOGISTICS

Chalmers Ltd: Kane Harnden has been appointed to the position of Chief Financial Officer/Company Secretary. He replaces John Fedorko who retired on 9 March 2016.

Steamships Trading Company Ltd: Michael Scantlebury is appointed to succeed Sean Pelling as Finance Director and Company Secretary with effect from 24 June 2016.

11 March 2016 The Blenheim Report | No Limitations

ASIA PACIFIC  EUROPE  LATIN AMERICA  MIDDLE EAST  AFRICA  NORTH AMERICA

For further information on the current Executive and Board market or to better understand Blenheim Partners Executive Search & Board Advisory practices, please contact a Partner below.

Gregory Robinson Founder & Managing Partner, Search & Advisory p + 61 2 9253 0954 e [email protected]

Mr. Robinson has been specialising in senior international executive appointments for over 18 years. Sector experience is broad and includes consumer retail, natural resources, infrastructure, industrial, manufacturing, telecommunications, technology, financial services, health and sport. He has acted as an adviser to many of Australia’s leading corporations on board performance, capability and succession. Mr. Robinson has been involved in Board Advisory and C-Level appointments in three continents and was a Director of Australian Business in Europe whilst in London. Mr. Robinson holds a B.Comm with Merit and was awarded with the coveted Green Beret when in the Australian military. He is a member of Blenheim Partners’ Board, CEO & CFO Practices.

Ian Smith Partner, Search & Advisory p + 61 2 9253 0955 e [email protected]

Mr. Smith has over 26 years’ experience working with global media, marketing and technology companies in Australia, the US, Europe and Asia and is heavily involved with Blenheim Partners’ Board, CEO, TMT & Private Equity Practices. Prior to joining Blenheim Partners, he was Managing Partner of Heidrick & Struggles Australasia and member of the Board, CEO, Media, Entertainment, and Private Equity practices.

Before his career in executive search, Mr. Smith was Chief Executive Officer of Yahoo!7, one of Australia’s leading online portals and Chairman of Yahoo!Xtra, a joint venture with Telecom New Zealand.

He has also held Chief Executive Officer and senior executive roles in global media, marketing communications and advertising companies, including APAC regional Chief Executive Officer for Bates, and international president of Bates Worldwide based in New York. He was also a director of Cordiant PLC based in London. Mr. Smith was Chief Executive Officer of The Communications Group (TCG), Australia’s largest marketing services holding company which included ownership of George Patterson Advertising, Zenith Media, Professional Public Relations and a dozen other marketing, technology, sponsorship, branded content and communications companies. In 2002, Ian led a private equity backed buyout of TCG which was subsequently sold to WPP in 2005. He has also served as a Trustee of the State Library of New South Wales and a Director of the Garvan Insitute of Medical Research Foundation. Mr. Smith holds a Bachelor degree in Sociology and Psychology from La Trobe University in Melbourne.

Brett Wright Partner, Search & Advisory p + 61 2 9253 0958 e [email protected]

Dr. Wright has advised many of Australia’s premier organisations on board and executive structure, performance and assessment, competitor analysis and succession planning. He has an extensive background in human resource leadership, strategy and management. Prior to Executive Search he had a range of line management, academic and consulting roles which include nine years as the Group Executive Human Resources in St George Bank. At St George, Dr. Wright was a member of the Executive Committee reporting to the Chief Executive Officer and Managing Director. Dr. Wright was responsible for all aspects of the people strategy for over 9,000 employees. This included developing and implementing human resource programs aimed at providing the competitive advantage through people. He was a key driver behind many of the Group’s initiatives including flexible working arrangements.

More recently Dr. Wright was Executive Director People for Ashurst, reporting to the Managing Partner. He managed all aspects of the people strategy for the Australian and Asian offices of the firm. Dr. Wright has a PhD in Organisational Behaviour and has been the Adjunct Professor to the University of Western Australia. He also holds a B.E(Hons), M.EngSc and an MBA from the University of Sydney. He is a key member of the Board, CEO, HR, Practices. He also leads the Leadership Advisory and Re-Engagement Practices.

Alison Tovey Partner, Research & Gender Diversity p + 61 2 9253 0953 e [email protected]

Ms. Tovey leads both our Research and Gender Diversity Practices and is committed to enhancing the gender diversity of the Boards and the top executive management teams of our clients recognising the need to optimise overall Board and organisation effectiveness. Ms. Tovey is highly experienced at handling critical appointments and ensures our rigour and thoroughness of our research methodology highlights lateral and innovative suggestions.

Ms. Tovey commenced work in the executive search industry in 2000 with Korn/Ferry International in Sydney and later moved to London where she was involved in searches in financial and professional services covering the European, North American and Asian markets. Before commencing in search Ms. Tovey worked in Business and Private Banking at ANZ Bank. Prior to this Ms. Tovey was employed by the Foreign Investment Review Branch of the Federal Treasury. Ms. Tovey holds a B.Ec, B.Comm and is a CPA.