The Chairman of Australian Unity, Alan Castleman, today announced the appointment of two new directors to the Australian Unity Limited board.
Mr Castleman said Ms Kate Spargo and Mr Glenn Barnes, both of whom have had extensive non-executive directorship careers, had accepted offers to join the board effective 16 October 2009. He also noted that, as part of the arrangements for the merger last month with Lifeplan Australia Friendly Society Limited, the Chairman of Lifeplan, Mr John Butler, joined the Australian Unity Board on 31 August this year.
The appointments of Ms Spargo and Mr Barnes follow an extensive review process and externally facilitated search undertaken by the board as part of its ongoing commitment to corporate governance.
Mr Castleman said today that he was delighted the candidates had accepted the positions.
"They will each bring additional experience and perspective to what is already a strong team of non-executive directors," Mr Castleman said. "The new directors will add to the depth of strategic insight and governance at board level."
Mr Barnes has had 20 years of governance experience in banking and financial services, business information and consumer goods. He is a director of Lion Nathan Ltd and Ansell Ltd and also serves as chairman and director of a number of not-for-profit and private interest companies.
Mr Barnes said he welcomed the chance to contribute to the organisation's strategic development.
"Australian Unity is a long-established organisation with a proud history in supporting the wellbeing of Australians and has very positive growth prospects," Mr Barnes said.
"The organisation is continuing to develop strong value propositions in many areas, including financial services, preventative health and innovative retirement precinct development. These are areas of growing importance to Australians and I look forward to making a contribution to Australian Unity's sustained success in supporting its customers with high quality and value products and services."
Ms Spargo's current directorships include in the financial services, legal, infrastructure and energy sectors, with positions on Investec Bank (Australia) Ltd, Transfield Services Infrastructure Ltd and Suncorp Portfolio Services Ltd, among others. She chairs the Accounting Professional and Ethical Standards Board and conducts the Listed Company Director Program for the ASX and AICD throughout Australia.
Ms Spargo said she was looking forward to contributing to the strategic development of Australian Unity. "Australian Unity is a diversified organisation that provides trusted wellbeing products and services. The range of the company's operational activities are extensive and include many exciting opportunities," she said. "I am looking forward to helping the organisation develop these activities."
Mr Castleman noted that Mr Bruce Siney who has served on the board since 2000 has announced that he will retire at the conclusion of this year's AGM.
"With the addition of these new directors, I am confident that the Australian Unity Limited board will continue its strong and important role to guide this significant Australian organisation," Mr Castleman said.
Australian Unity is a national healthcare, financial services and retirement living organisation providing services to more than 560,000 Australians, including some 330,000 members nationwide.
In the financial year ended 30 June 2009, Australian Unity's revenue was more than $600 million. It employs around 1,300 staff nationally.
Australian Unity's history as a trusted mutual organisation dates back almost 170 years. It has grown organically - by continually evolving and providing the services and products needed by the communities it serves - as well as through successful strategic mergers and diversification into new business activities.
Its business approach can be summed up as developing and providing health, financial and lifestyle services capable of making a difference to the wellbeing of members, customers, employees and communities.
