Virgin Australia appoints new board members

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By admin July 4, 2014 18:35

Virgin Australia appoints new board members

Virgin Australia has appointed the CEOs of Air New Zealand, Etihad Airways and Singapore Airlines to its board.

The appointments reflect the major ownership stake each of the airlines now hold in Virgin Australia.

Virgin stated that ANZ’s Christopher Luxon, Etihad’s James Hogan and Goh Choon Phong of Singapore Airlines, will take up their roles immediately.

Air New Zealand is Virgin Australia’s largest shareholder, holding a 26% interest; Singapore Airlines holds a 21% stake and Etihad holds 22%. Richard Branson’s Virgin Group holds another 7%.

The changes to the board mean that four of its ten members represent the company’s major shareholders, alongside five independent directors and one executive director.

Virgin Australia chairman Neil Chatfield said the airline had adopted a nominee director protocol in November 2013 to manage conflicts of interest and confidential information.

Chatfield said: “The board will retain its overall independence given that I, as current chairman, am an independent director and the company’s constitution states that the chairman has a casting vote if there is an equality of votes at a meeting of directors,” he said.

admin
By admin July 4, 2014 18:35
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