ASX Release
15 September 2008
RESIGNATION OF DIRECTOR
International investment and specialised fund and asset management firm
Babcock & Brown (ASX: BNB) today announces the resignation of Mr Phil
Green as a Director of the Company effective 13 September 2008.
Chairman, Elizabeth Nosworthy said, “After stepping down as CEO and
Managing Director of the Company, Phil has decided that the transition from
Chief Executive and Managing Director to a Director role was a difficult
move for him to make and not in the best interests of the Company from a
corporate governance perspective or his own personal position. He has
therefore chosen to resign from the Board.”
“The Board and Senior Management team are focussing on the strategic review
and the execution on the initiatives announced on 21 August 2008 with the
Company’s interim result. Phil will be available to assist with this process if
required” she said.
A search to recruit new independent directors for the Board has commenced.
ENDS
For further information please contact:
Kelly Hibbins
Babcock & Brown
+61 2 92291866
[email protected]
About Babcock & Brown
Babcock & Brown is an international investment and specialised fund and asset
management group with longstanding capabilities in structured finance and the
creation, syndication and management of asset and cash flow-based
investments. Babcock & Brown was founded in 1977 and is listed on the
Australian Securities Exchange.
Babcock & Brown operates from 33 offices across Australia, North America,
Europe, Asia, United Arab Emirates and Africa and has in excess of 1,500
employees worldwide. Babcock & Brown has four operating divisions including
real estate, infrastructure, operating leasing, corporate and structured finance.
The company has established a funds management platform across the
operating divisions that has resulted in the creation of a number of focused
investment vehicles in areas including real estate, renewable energy and
infrastructure.
For further information about Babcock & Brown please see our website:
www.babcockbrown.com
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