Murchison adds boardroom muscle

Murchison Metals has beefed up its board with the appointment of four independent non-executive directors, and flagged the appoinment on an independent chairman.

Murchison said managing director Trevor Matthews will step down from the board into the newly created position of chief executive, and executive chairman Paul Kopejtka indicated his role would change with plans for the role of chairman to become an independent non-executive position.

The new directors are former Santos vice president Peter Waso, ex-AGL chief executive Greg Martin, Macmahon Holdings chairman Ken Scott-Mackenzie and former North West Shelf general manager for Woodside, Samantha Tough.

The appointment is Mr Wasow's first non-executive role since retiring from the board of Santos at the end of last year.

Prior to joining Santos, Mr Wasow held a series of senior executive positions at BHP over a 23 year period.

Mr Martin holds 30 years experience in the energy, utility and infrastructure sectors. He is currently a non executive director at Santos, and spent five years as chief executive officer of The Australian Gas Light Company (AGL) between 2001 and 2006.

Mr Scott-Mackenzie holds 36 years experience in engineering, mining and construction in Australia and overseas, notably as a senior executive of infrastructure developer Abigroup, including two years as chief executive following its takeover by German group Bilfinger Berger.

Ms Tough spent four years as general manager of the North West Shelf project for Woodside, and has also served as director of strategy at ASX-listed oil producer Hardman Resources.

Murchison said each of the incoming directors had a range of skills and experience that would help smooth the transition from financing and approval to construction and operation of the Oakajee port and rail infrastructure project, and the expansion of the Jack Hills iron ore mine.

Mr Kopejtka said: "the appointment of four highly respected and experienced independent non-executive directors to the Murchison Board complements the extensive skills and experience of Murchison's existing directors and is an important development as Murchison enters the most exciting period in the company's history."

The appointments have transformed the structure of Murchison's board, which previously comprised five directors, two executive directors, and one independent non-executive director.

The new board will comprise eight directors, five of which will be independent non-executives.

Exisiting non-executive directors are Calibre Global's managing director, Rod Baxter, Resource Capital Funds co-founder James McClements and Korean steel producer POSCO Australia's managing director SM Woo.

Murchison said the changes would result in a more appropriate board structure and governance framework for the next phase of its development.

At 1:55PM (WST) Murchison shares had slipped 3.5 per cent to trade at $1.10.