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Cabcharge Australia Limited (ASX:CAB) have announced a new chairman after the recent passing of its founder, chairman and CEO Reg Kermonde. Mr Kermonde served Cabcharge for 39 years until resigning on medical advice last month.
Mr Russell Balding, an independent Director of the Company, has been elected as the new chairman. Mr Balding brings a wealth of experience have served as CEO of Sydney Airport and Managing Director of the ABC.
Mr Balding also holds several other board positions including Deputy Chairman of Destination NSW and on the boards of the NSW Business Chamber and Racing NSW.
Cabcharge also posted associated companies results for Q1 2014. ComfortDelGro Cabcharge business dropped earnings by 12.3 per cent or $2 million after the expiry of a bus service contract. UK business CityFleet Group increased turnover by 18 percent.
Cabcharge announced half year profit of $36 million for the half year to 31 December 2013.
