Re Directorate
17 March 2001 - 12:04AM
UK Regulatory
RNS Number:5165A
Brierley Investments Limited
15 March 2001
SIR RON BRIERLEY TO RETIRE FROM BIL ON 40TH ANNIVERSARY OF THE COMPANY
Singapore, 15 March 2001 - After 40 years of involvement with the company he
founded, Sir Ron Brierley has decided to retire from the Board of Directors of
Brierley Investments Limited (BIL) on the anniversary of its founding on 30
March, 2001. Sir Ron was Chairman and CEO of BIL from its founding on 30 March
1961 until 1979 and Chairman until January 1990. At that time he became a
non-executive Director of BIL and Founder President, which is an appointment for
life.
Although Sir Ron has not been actively involved with BIL for more than a decade,
his retirement from the board is the end of an era for BIL. "Sir Ron taught me
much," said Sir Selwyn Cushing, Chairman of BIL, "I value his counsel, his
wisdom and above all his friendship."
Sir Ron built BIL from nothing to be one of the largest listed companies by
market capitalisation in Australasia. In doing so he created great wealth for
the Company's shareholders and earned the loyalty of large numbers of retail
investors, especially in New Zealand.
He was also one of the first catalysts for the revolution in corporate
governance which has swept the world and which has led to the primary focus of
corporate managers being placed on enhancing shareholder value. Sir Ron's
relentless, often aggressive style caused management teams of many of
Australasia's leading companies to focus for the first time on maximising the
return on the assets they managed and improving the returns earned by their
shareholders. His demands that companies act transparently and fairly towards
their shareholders were seminal in the development of modern corporate
regulatory regimes.
Greg Terry, Chief Executive of BIL added: "Sir Ron Brierley is one of the great
figures of Australasian business in the Twentieth Century. He will always be
remembered as the Company's founder by the thousands of loyal BIL shareholders
in New Zealand and Australia."
Enquiries:
Brierley Investments Limited
Andrew Shepherd Tel: +65-438-0002
Email: a.shepherd@bil.com.sg
Gavin Anderson & Company Tel: +65-339-9110
Richard Barton Mobile: +65-9627-1056
Email: rbarton@gavinanderson.com.sg
Terence Foo Mobile: +65-9878-8787
Email: tfoo@gavinanderson.com.sg
Executive Assistant to Sir Ron Brierley Tel: +61-9247-6372
Ms Sally Hankinson
Notes to Editors:
Sir Ron Brierley, aged 63, was born in New Zealand and founded BIL in 1961. He
is currently Chairman of Guinness Peat Group plc and holds a number of
Directorships of companies in Australia. He was formerly Chairman of the Bank
of New Zealand, a Trustee of the Sydney Cricket and Sports Group Trust (1988-96)
and President, New Zealand Cricket (1995).
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