At its monthly meeting this week, the CSR Limited board considered succession planning issues arising from the fact that the chairman, Ian Burgess will reach the CSR director retirement age of 70 during 2001 and the current chairman of the board Audit Committee David Voss will retire with effect from the end of this year’s annual general meeting on 24 July.
Mr Burgess wishes to retire from the CSR board on 1 May 2001 and Mr Morschel has accepted the board’s invitation to become the company’s new chairman at that time.
At the meeting the board appointed John Morschel as deputy chairman. He will also become chairman of the board Audit Committee upon David Voss’ retirement.
Mr Morschel, age 57, joined the CSR board in 1996. He is chairman of Comalco Limited and a director 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 executive of Lend Lease Corporation.
Chairman Ian Burgess said: “We are delighted that John Morschel has agreed to accept these new roles. He has been an invaluable contributor to the CSR board since joining and he brings with him a wealth of experience, particularly in the building and construction industry.”