TWR
26/05/2015 09:04
DIRECTOR
NOT PRICE SENSITIVE
REL: 0904 HRS Tower Limited
DIRECTOR: TWR: TOWER appoints Warren Lee to Board
26 May 2015
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
New Zealand
Company Announcements Office
Australian Securities Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
Australia
TOWER appoints Warren Lee to Board
TOWER Limited (NZX/ASX: TWR) today announced the appointment of Mr Warren Lee
as an independent non-executive director of TOWER Limited, effective 26 May
2015.
Chairman Michael Stiassny said the Board is very pleased to welcome Mr Lee as
a director.
Mr Lee is Chief Executive Officer of the Victorian Funds Management
Corporation. He was previously Chief Executive Officer, Australia and New
Zealand for AXA Asia Pacific Holdings Limited.
His career at AXA spanned 15 years in senior management positions within the
company's Australian and Asian businesses. Mr Lee's roles included Chief
Financial Officer for AXA Australia and New Zealand and, prior to that, Chief
Operating Officer for AXA in Hong Kong.
"Warren's extensive experience and long record of leadership in the
international insurance industry will enhance the Board's existing strong
capabilities," said Mr Stiassny.
"TOWER's vision is to deliver attractive shareholder returns by growing a
general insurance business that is a leading light in New Zealand and the
Pacific. The Board has a very clear focus and a mix of directors with the
experience and skills that will support our efforts to create value for
shareholders.
"Warren's appointment is a significant step in the ongoing evolution of the
Board and his experience and counsel will be of great benefit to TOWER."
Mr Lee said, "I am delighted to be joining the Board of such an innovative
and dynamic company with a wonderful history and look forward to playing a
role in TOWER's success as a customer-focused general insurer."
Mr Lee is based in Melbourne, Australia, holds a Bachelor of Commerce degree
from the University of Melbourne and is a member of the Institute of
Chartered Accountants in Australia.
In accordance with the Company's constitution, Mr Lee will retire and offer
himself for election at the annual meeting of shareholders to be held in
February 2016.
TOWER's Board has determined that Mr Lee is independent in accordance with
the requirements of the Main Board Listing Rules.
TOWER Board members are now:
Michael Stiassny Independent, Chairman
David Hancock Non Independent, Chief Executive Officer
Rebecca Dee-Bradbury Independent
Warren Lee Independent
Stephen Smith Independent
Graham Stuart Independent
Michael Stiassny
Chairman
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
End CA:00264790 For:TWR Type:DIRECTOR Time:2015-05-26 09:04:13
