16/10/2014 - 10:54

TFS appoints Gooding to board

16/10/2014 - 10:54

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Sandalwood producer TFS Corporation has appointed Gooding Partners founder Dalton Gooding as an independent non-executive director, effective immediately.

TFS appoints Gooding to board
TFS Corporation's new non-executive director Dalton Gooding.

Sandalwood producer TFS Corporation has appointed Gooding Partners founder Dalton Gooding as an independent non-executive director, effective immediately.

“This is a further step in the refresh and expansion of the board following the appointment of John Groppoli last week,” TFS chairman Patrick O’Connor said.

Mr Gooding is also on the board of RAC of WA, St Ives Group, Katana Capital and Brierty and, through his company Gooding Partners, advises business related to taxation and accounting issues, due diligence, feasibilities and general business advice.

He is also a fellow of the Institute of Chartered Accountants Australia and New Zealand.

“We are pleased to secure the financial and accounting skill set that Dalton brings to TFS as an independent non-executive director,” Mr O’Connor said.

“These will be invaluable as we continue to expand the business both locally and abroad.”

Mr Gooding stepped down as chairman of biotech company Avita Medical in November last year, after its shareholders showed their displeasure with a 75 per cent 'no vote' against the company's remuneration report.

In August, TFS announced it had achieved a record full-year profit of $82.5 million, up 48 per cent on the back of increased plantation asset ownership.

It purchased an established 364-hectare Indian sandalwood plantation for $35 million.

Earlier in the year, it struck a deal with global dermatology company Galderma to supply pharmaceutical grade oil at a price of $US4,500 per kilogram.

Shares in TFS were down by 0.2 per cent to $1.51 per share at 10:30am.

 

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