On Dec. 16, AST GVT made appointments to AST CB's 2 new boards.
AST GVT made appointments to AST CB's 2 new boards, locking in a key reform to strengthen and modernize AST CB; the appointments to the new Governance Board and Monetary Policy Board implement core recommendations of an AST CB review.
These appointments are one part of the biggest set of reforms undertaken at AST CB in over 30 years; the new boards are scheduled to commence from Mar. 1, 2025.
On same day, AST GVT issued transcript of press conference with respect to the same.
Follows AST PRL Nov. 2023 issued bill to amend law regarding AST CB, see #192728.
Appointments to Governance Board
AST GVT said it has appointed Ms Jennifer Westacott AO, Mr David Thodey AO, Mr Danny Gilbert AM as well as Ms Swati Dave to serve on the Governance Board.
Westacott's credentials include over 3 decades of experience across public and private sectors, and she was Chief Executive of Business Council of Australia for over 10 years.
Credentials of Thodey include that he is a global business leader with deep experience in innovation, tech, governance; credentials of Gilbert include that he is a respected business leader, lawyer and philanthropist, plus he has extensive board experience.
Dave's credentials include being an experienced non-executive director, senior banking exec with over 30 years of financing experience in domestic and international markets.
Additional AST GVT Comments
AST GVT said it consulted existing board members to see if they would be willing to continue serving on 1 of the 2 new boards, which is what the review recommended.
In addition, AST GVT said it has staggered the term lengths of new appointments.
Plus, extended terms of existing external members to ensure both boards have right balance of experience, fresh perspectives, consistent with review recommendations.
AST CB Statement
On the same day, AST CB welcomed the appointment of new members to the boards.
In Feb. 2025, AST GVT issued amendment regs due to AST CB reforms, see #242843.
