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Independence moves four seats on Tropical Forestry board


WA sandalwood company Tropical Forestry Services Ltd has completed sweeping changes to its board, with four directors including the CEO Tom Cullity stepping down to allow an independent majority.
In a move foreshadowed at the company's recent AGM, Mr Cullity along with Blaine Kidd, Julius Matthys and
Graeme Scott have relinquished their roles as directors.
Mr Cullity said he has been an advocate of a smaller board for some time, and sees
his resignation as an opportunity to set an example, without diminishing his
continuing role as CEO.
Mr Kidd will continue to provide marketing services to the company.
The company said Mr Matthys, who is now based in the Netherlands, has found it difficult to
contribute to his satisfaction, due to his heavy commitments as a senior
executive of BHP Billiton.
International and interstate business interests are now taking up much of Mr
Scott's time, making it difficult for him to contribute as much as he has done in
the past.
Coming on to the TFS board is Bell Potter senior investment adviser Blake
Myles.

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