Board Members

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GUEST OBSERVER
The solution to low representation of women on boards across the country is not to introduce quotas.
Creating quotas means that women instantly lose their credibility because they are seen as being required to be there.
Government should support and educate women on how they can achieve board representation.
While one should still earn the right to be appointed to a board, it’s the selection process that needs to be fairer.
In November last year the Victorian government introduced a program to help more women and girls earn sports leadership roles. A target of 40 percent of women in board positions in three years’ time was introduced.
The Change our Game campaign came after an enquiry into how to help women get the opportunities they deserve in what can be male-dominated environments.
The program includes recruitment guidelines to help attract more women and girls to sports leadership roles. This level of support needs to be rolled out across the country and through a wide range of industries.
The structure of how boards are elected should also be reviewed.
The internal nominations structure many organisations have could be replaced with a more transparent process that sees the best possible candidates for a role sought out through a variety of different means, including advertising and social media.
Board representation needs to be looked at as part of an overall strategic plan. Questions need to be asked, such as: Would an organisation benefit from having more men or women? What is their strategy and desired outcome?
Then a campaign can be created to look at the audience and the objectives for the board member they’re after.
This would see the right candidate for the role appointed and more women in turn would be given the opportunity to achieve board positions.
Mentoring of women to ensure that they are board ready is also an important step forward.
Organisations like Women on Boards, that help to provide information to women about how to achieve board positions, are essential to the process of ensuring more women are represented.
Kylie Walsh is a General Manager of Di Jones Real Estate and can be contacted <a href="https://www.dijones.com.au" target="_blank">here</a>.
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Support women on boards without quotas: Kylie Walsh

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Mortgage broking services firm AFG has two new members on its board.
Melanie Kiely and Jane Muirsmith have been appointed as non-executive directors on the AFG board, the company said in a media release. Kiely is an experienced executive and company director with more than 25 years of experience in health care, financial services and consulting in Australia, Europe and South Africa. An Honours degree holder in Business Science, Kiely has held a number of board positions in the financial services and health sectors. Muirsmith has held leadership roles with some of the world’s leading brands in Australia and abroad. She is a non-executive director of Healthdirect Australia, a Fellow of Chartered Accountants, Australia and New Zealand, vice-chair of the WA Business Advisory Committee and a member of the UWA Ambassadorial Council.
“AFG is fortunate to be able to gain access to the extensive experience of our new board members. The appointment of Jane and Melanie brings diversity of thought and internationally informed experience to the AFG board," said AFG Chairman Tony Gill.
 
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Two new non-executive directors on AFG board

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David Nitschke, the First National chairman, has slammed a Fairfax Media article as "based on rumour, gossip and deliberate falsehoods."
He expressly denied there were any undisclosed conflicts or dodgy deals linked to board members.
"The article has no information of public interest but is designed to cause maximum harm to the network, to divide the membership, and to personally vilify our CEO, former and current Directors and senior staff, and serves no purpose other than to try to cause harm to our brand," he told First National staff today.
He suggested staff must stop interacting with "disaffected former members and employees who have no investment or interest in our success."
He said he was not intending to respond to "the diatribe in detail, the position of successive Boards is well known to members."
"But let me assure you:
1. There is no 'internal upheaval' within the network.
2. Commercially and financially your network is in excellent shape as the forthcoming financial results will testify.
3. There are no undisclosed conflicts or dodgy deals linked to board members. All board members' personal interests are disclosed at the time of appointment and conflicted board members refrain from voting on matters in which they have a personal interest.
4. At no time has the Board threatened legal action, thinly veiled or otherwise, against any members."
His email to staff which was provided on request to Property Observer paid tribute to their CEO, Ray Ellis and management team "who are the ones that have had to bear the brunt of the negativity and salacious allegations."
"Ray and his team have the absolute and unqualified support of the Board," he advised.
"It is improbable that anyone outside the network and those responsible for this indecent campaign would have any interest in the article but it seems we are under attack and so it is imperative that we remain strong and resilient and that we all come together behind the Board, our Regional Councils and our outstanding Management team to maintain our status as Australia's most advanced real estate network."
The Fairfax article suggested the existance of a reform group -  believed to be supported by about 40 agents - who were especially upset over "the value of assets in the balance sheet".  
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First National chairman defends network against Fairfax Media claims

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ASX-listed fund manager Centuria Capital Limited (Centuria) has appointed a new board member who presently works at Google.
 
Susan Wheeldon-Steele is the head of performance at Google where she develops and delivers growth strategies for clients. 
 
Wheeldon-Steele moved to Toowoomba in Queensland when she was four from Charleville and attended Concordia Lutheran College from years one to 12 before starting her further studies at the University of Southern Queensland and working at Murdoch Toowoomba Lawyers, according to a report in the Chronicle. 
 
Centuria chairman Garry Charny said having Wheeldon-Steele on the board was “a step towards the future”.
 
She was previously head of Brand &amp; Retail at AMP Capital Shopping Centres, and was responsible for delivering alternative revenue from 38 retail assets across Australia and New Zealand with combined annual sales in excess of $5 billion.
 
She holds an MBA from the Australian Graduate School of Management (AGSM) and is a member of the Australian Institute of Company Directors.
 
Centuria Capital has $1.9 billion in funds under management, including listed and unlisted property funds as well as tax-effective investment bonds.
 
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Centuria Capital gets a new board member in Susan Wheeldon-Steele

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Dawn Ostroff and Jeffrey Goldstein have joined the Board of Westfield Corporation, effective immediately. 
They appointed as non‐executive directors.
Both are residents in the United States.
Dawn Tarnofsky-Ostroff is the former president of entertainment of The CW and, currently, is the president of the Conde Nast Entertainment division, a production company engaged  in projects across film, television and premium digital video based on Condé Nast’s iconic brands. 
Prior to joining Condé Nast, Ms Ostroff was president of entertainment at CW broadcast network, a joint  venture of CBS and Warner Bros., which she helped launch in 2006.
Ms Ostroff has a bachelor of science degree in journalism from Florida International University.  
Jeffrey Goldstein is a Managing Director of  the private equity  firm Hellman &amp; Friedman LLC  (H&amp;F).  
In  2009, Mr  Goldstein  left  his  role  at  H&amp;F  and  served  two  years  as  Under  Secretary  of  the  Treasury  for  Domestic  Finance  and  Counselor  to  the  Secretary  of  the  Treasury  in  the  United  States.  Prior to H&amp;F, Mr Goldstein served as Managing Director and Chief Financial Officer of the World Bank. Prior  to his  tenure at  the World Bank, Mr Goldstein was Co‐Chairman of BT Wolfensohn and a member of  the  Bankers Trust Company Management Committee. He held senior management positions and worked with  BT Wolfensohn and related companies for more than 15 years.  Earlier in his career, Mr Goldstein  taught economics at Princeton University and worked at  the Brookings Institution.  
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Conde Nast entertainment president Dawn Ostroff appointed to Westfield board

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Mortgage Choice has named Bennelong Funds Management and Mirvac Funds Management director, Vicki Allen, to replace retiring chairman Peter Ritchie.
Allen has been appointed a director at the broker and will assume her role as Chairman after Ritchie retires on July 1.
Ritchie, who announced his intended retirement at the company’s AGM in October 2016, will officially retire from the Board next month after more than 13 years with the business, Mortgage Choice said in a media release.
Allen has a background in financial services and property investment.
“This year, Mortgage Choice celebrates its 25th birthday. The company was one of the original mortgage brokers in Australia and remains one of the pre-eminent brands within the marketplace,” Allen said on her appointment.
“I am excited and honoured to have the opportunity to work alongside both the Board and the executive team to continue to deliver positive results for the company."
Mortgage Choice chief executive officer John Flavell, while welcoming Allen, said Ritchie would be missed. 
“Peter joined Mortgage Choice in 2004, and throughout the years he has helped the business transform from a mortgage broker, to an ASX300, fully-fledged financial services company that has cemented itself as one of Australia’s most loved financial services brands,” Flavell said.
The broker had said earlier that more than 20 percent of borrowers were choosing to <a href="https://www.urban.com.au/news/66401-one-in-five-property-owners-choosing-fixed-rate-loans-mortgage-choice" target="_blank">fix their home loan</a> as lenders continued to change their interest rates out of cycle with the central bank.
Ritchie said he was honoured to have been a part of the Mortgage Choice business.
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Mortgage Choice names new chairman to succeed Peter Ritchie

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LJ Hooker’s former CEO, Grant Harrod, has joined the Board of comparison website LocalAgentFinder as a non-executive director to help drive the company’s real estate network.
LocalAgentFinder provides property owners tools to compare local real estate agents or property managers for the sale or leasing of their properties. 
The business, led by Matt McCann, the former CEO of iSelect, is continuing to explore its strategic options including an Initial Public Offering (IPO) as part of its growth strategy.
Harrod is the CEO of Pro-Pac Group (ASX: PPG) and from 2008-2013 built Salmat (ASX: SLT) into a leading multi-channel communication services company, the Elite Agent reported.
He <a href="https://www.urban.com.au/news/64103-grant-harrod-quits-lj-hooker" target="_blank">quit LJ Hooker in January</a> this year after the board of the real estate agency ditched plans for its $400 million float on the ASX.
LocalAgentFinder’s chairman, Pat O’Sullivan, said Harrod’s joining its Board was a “vote of confidence into the LocalAgentFinder business model”.
“While LocalAgentFinder continues to experience strong growth in terms of agent registrations and visitors using the platform, Grant will be able to provide invaluable insights into both these audiences that will inform the business’ thinking and targeting strategies moving forward.”
Pat O’Sullivan was appointed chairman of LocalAgentFinder in May and is also a director of CarSales (ASX: CAR), iSentia (ASX: ISD) and APN Outdoor (ASX: APN).
Harrod said LocalAgentFinder has the potential to further cement itself as the first port of call for Australians looking to compare real estate agents before listing a property.
“What drew me to the LocalAgentFinder business was its simple value proposition for agents and vendors of real estate,” he said.
“Agents can be objectively compared against their peers while benefiting off these comparisons through leads that required no prospecting on their behalf.
“On the flip side, vendors have access to insights on an agent such as performance data, independent homeowner reviews and fees and commissions to help them make informed decisions about who is the right agent for them to list with.
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Ex-CEO of LJ Hooker Grant Harrod joins LocalAgentFinder board

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The former prime minister Julia Gillard has joined the board of Liberman family-backed CVS Lane.
It is a Melbourne-based property finance and investment company established in 2011.
Since inception it has raised over $600 million across 75 transactions with an end value of over $4 billion.
Earlier this year former Prime Minister Paul Keating took a <a href="https://www.urban.com.au/news/67644-former-pm-paul-keating-takes-stake-joins-board-of-commercial-financier-maxcap" target="_blank">similar board role with MaxCap</a>, a rival property finance house, also based in Melbourne.
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Both finance companies are looking for growth beyond being backed by a local wealthy investors in the expanding opportunity of residential development debt which has emerged as the banks curb their exposure under pressure from the regulators.
"I'm intrigued by the work that it does, property financing," the Adelaide-based Ms Gillard told the AFR.
"That is a microcosm of understanding what's happening with the Australian economy and what's happening with global trends.
"I thought I could value-add, not by being a property finance expert – I'm never going to match it with these guys on that depth of knowledge – but by bringing to the table that broader perspective and broader expertise."
Gillard has been on the board for five months having already completed an Asia roadshow.
The former prime minister is the first independent director on the board alongside its founders including Joshua Liberman.
Gillard is also on the board of a New York based educational software group and an adviser to a US venture capital outfit, alongside her philanthropic activity including chair of mental health charity beyondblue. "I'm leading this portfolio life now, which is quite different to my old life of the one big job," she said.
The Collins Street, Melbourne-based investment house manages a range of investments, including a property partnership with Don O'Rorke's Consolidated Properties Group.
Last week CVS Lane Capital Partners and Consolidated Properties Group confirmed settlement of the sale of Casuarina Village Shopping Centre to the Sydney based investor, Whistle Funds Management for $27.4 million which represented a yield of 5.90%.
CVS has provided a first mortgage facility to assist in the acquisition of the Coburg Quarter property.
It also provided a first mortgage facility for <a href="http://www.pamada.com/oslo" target="_blank">Pamada</a> on the Oslo Apartments site, located 5km northeast of the Brisbane CBD, which will comprise 160 apartments and a retail premises upon completion.
Lee Centra is its managing director with Jason Henry, the chief financial officer. Andrew Vasarelli is the head of credit and asset management.
Its directors include Michael Goldman, Nick Pettigrew and Ari Bergman.
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Julia Gillard joins CVS Lane property financing board

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Lendlease has appointed high-profile former public servant and finance executive Elizabeth Proust to its board.
The announcement of her becoming an independent non-executive director from next February came ahead of its annual general meeting on Friday.
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Ms Proust, one of the country’s top business figures and networkers, will join the David Crawford-led board which includes Nicola Wakefield Evans and Jane Hemstritch.
She was recently listed on the list of 15 of Australia’s super networkers by the Institute of Managers and Leaders.
The new Lendlease director spent eight years at ANZ Group, including four years as managing director of Esanda.
Before joining ANZ, Ms Proust ran Victoria’s Department of Premier and Cabinet and had been chief executive of the City of Melbourne.
Ms Proust is also chairman of the Australian Institute of Company Directors and of Nestle’s Australian arm, as well as heading the Bank of Melbourne’s advisory board.
Ms Proust is also deputy chairman of the Catholic Church’s Truth, Justice and Healing Council.
Mr Crawford said that Ms Proust was highly regarded in both the public and private sectors and her appointment would enhance the board’s mix of skills, diversity and experience.
An Australian Council of Superannuation Investors report in 2015 showed that women accounted for almost 40 per cent of the directors who were appointed by S&amp;P/ASX 100 companies in the previous 12 months, adding about 50 per cent them already held directorships at other companies. 
After the report's release Australian Institute of Company Directors chair Elizabeth Proust rejected suggestions of a "girls club" at ASX 100 companies.
She also advised women against stepping down from executive roles in order to become non-executive directors.
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Elizabeth Proust joins Lend Lease board 

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Leading Queensland property developer Sunland Group has appointed Rebecca Frizelle to its board of directors, effective from January 2018. 
The board selected Frizelle for the role of non-executive director, citing her extensive business experience. 
Soheil Abedian, Sunland Group executive chairman, said Frizelle is eminently qualified for the role and extended his warmest congratulations on behalf of the Board. 
“Rebecca is one of the most talented and respected business people on the Gold Coast and brings to the role more than 25 years’ experience in business strategy and workforce development,” Mr Abedian said. 
“We are thrilled to welcome her to Sunland.” 
Upon commencing in the role, Frizelle will also become a member of Sunland’s Audit and Risk Committee. 
Abedian said the board’s skills and composition are closely aligned with Sunland’s strategic direction, as the group maintains its conservative approach to the delivery and replenishment of its $4.7 billion development portfolio. 
The portfolio comprises 6,284 residential homes, urban land lots and multi-storey apartments along Australia’s eastern seaboard, and Sunland’s emerging retail portfolio.
Frizelle is chief operating officer of Frizelle Prestige and a key shareholder at Frizelle Sunshine Automotive and PWA, one of Australia’s leading private automotive groups, representing over 30 global automotive brands and generating more than $1.5 billion in annual revenues.
In 2015, she was appointed to the board of the Gold Coast Titans and became the first female chair in the NRL code. She stepped down from the role in September to pursue a personal stake in the club.
Frizelle is a director of the Griffith University Advisory Board, Audi Australia Foundation Board, and St Hilda’s School Foundation, and a Member of the AICD.
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Board Members

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