Gina Rinehart takes seat on Ten board

Just days after emerging with a 10 per cent stake in media company Ten Network Holdings, mining magnate Gina Rinehart has taken a seat on the board.

It is the first public company move of this nature by Ms Rinehart who has kept her business life relatively private, building upon the mining legacy of her father, the late Lang Hancock.

Below is rthe Ten announcement:

The Board of Ten Network Holdings Limited today announced that Gina Rinehart will become a Director of the Company.
Mrs Rinehart will join the Board following the Company's forthcoming Annual General Meeting,
which is to be held on Thursday 9 December 2010.
Mrs Rinehart is a substantial shareholder in the Company, through the interests held by her and her company, Hancock Prospecting Pty Ltd, as confirmed in a notice of substantial shareholding this week.
Ten Holdings executive chairman, Nick Falloon, said: "The Board welcomes Mrs Rinehart's
involvement in the Company and is pleased to offer this Board seat as a reflection of her interest as a substantial shareholder."