05/06/2019 - 10:57

Wesfarmers taps Warburton

05/06/2019 - 10:57

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Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

Wesfarmers taps Warburton
Sharon Warburton has been a member of the Takeovers Panel since 2015.

Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

Sharon Warburton will join Wesfarmers on August 1 as the eighth non-executive director on the current board, and the fourth female non-executive director.

She currently serves as a non-executive director and co-deputy chairwoman of Fortescue Metals Group, and a non-executive director of Gold Road Resources, NEXTDC and WorleyParsons.

Ms Warburton has also been a member of the Takeovers Panel since 2015, and is an adjunct professor of Curtin University’s faculty of business and law.

She is active in the not-for-profit sector, including currently serving as a director of the Perth Children’s Hospital Foundation.

Her prior board experience includes as a non-executive director of Western Power and chairwoman of the Northern Australian Infrastructure Facility.

In 2014, Ms Warburton was named WA Telstra Business Woman of the Year.

She holds a degree in accounting and business law from Curtin University.

Wesfarmers chairman Michael Chaney said he was very pleased to welcome Ms Warburton to the board.

“Sharon brings valuable, complementary and diverse experience to the Wesfarmers board, particularly as the group continues to evolve its portfolio,” he said.

“Her appointment further strengthens the board’s mix of skills, knowledge and experience and continues an orderly process of balancing renewal and continuity."

In March, Wesfarmers made a $1.5 billion indicative offer for Lynas Corporation, valuing the company at $2.25 per share, which the board of the rare earths miner rejected.

Lynas' share price is currently hovering over $2.70 per share.

In May, the conglomorate launched a $776 million bid for lithium company Kidman Resources, which its board backed.

The two companies have entered into a scheme implementation deed, and Kidman shareholders will vote on the takeover offer in August.

 

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