At its monthly meeting this week, the CSR Limited boardconsidered succession planning issues arising from the fact that thechairman, Ian Burgess will reach the CSR director retirement age of 70 during2001 and the current chairman of the board Audit Committee David Voss willretire with effect from the end of this year’s annual general meeting on 24July.
Mr Burgess wishes to retire from the CSR board on 1 May 2001 andMr Morschel has accepted the board’s invitation to become the company’s newchairman at that time.
At the meeting the board appointed John Morschel as deputychairman. He will also become chairman of the board Audit Committee uponDavid Voss’ retirement.
Mr Morschel, age 57, joined the CSR board in 1996. He is chairman of Comalco Limited and adirector of Westpac Banking Corporation, Rio Tinto plc, Rio Tinto Limited,Cable and Wireless Optus Limited and Tenix Pty Ltd.
He has extensive experience in the building and construction,and finance industries, and is a former managing director and chief executiveof Lend Lease Corporation.
Chairman Ian Burgess said: “We are delighted that John Morschel has agreed to accept these newroles. He has been an invaluable contributor to the CSR board since joiningand he brings with him a wealth of experience, particularly in the buildingand construction industry.”