BHP, TCL and EOS Announces Management Changes; What investors need to know

  • Jan 14, 2020 AEDT
  • Team Kalkine
BHP, TCL and EOS Announces Management Changes; What investors need to know

Changes in a company’s management or board can sometimes provide useful insight into the company’s forward plan. An investor must never ignore any information related to the changes in a company’s top-level management.

Today, the below-mentioned three popular companies have announced changes related to their management team or Board. We believe that investors must know about these changes, hence we are providing an update on this.

BHP Group Limited (ASX: BHP)

Metal and mining giant, BHP Group Limited has announced that Terry Bowen, Director of BHP Group Plc as well as BHP Group Limited, has been appointed to the Board of Transurban Group, effective from 1st February 2020.

While commenting on his appointment to Transurban Board, Mr. Bowen commented that he has admired Transurban’s outstanding results and strong leadership; and is looking forward to contributing to the Board’s strategic oversight of the business and deliberations on further opportunities to add security holder value.

Mr. Bowen, who currently holds the position of Managing Partner & Head of the Operations Group at BGH Capital, upon joining the Transurban Board, he will reduce his responsibilities at BGH, transitioning to a part-time role as Partner and Chair of the Operations Group.

The company has planned a 9-year tenure guideline as part of Director succession planning and therefore, as planned, Lindsay Maxsted will not stand for re-election at the 2020 BHP Annual General Meetings, causing a limited period of overlap between Terry Bowen and Lindsay Maxsted on the Boards of BHP and Transurban.

At market close on 14 January 2020, BHP stock was trading at a price of $40.020, up by 1.24% intraday, with a market cap of around $116.45 billion. The stock is trading at a PE multiple of 17.290x with an annual dividend yield of 4.85%. The stock is currently trading near to its 52-weeks high price of $42.330.

Transurban Group (ASX: TCL)

World’s leading toll road operator, Transurban Group has appointed Fiona Last as Company Secretary of Transurban Group effective immediately. Under this role, Ms. Last will be responsible for communcations with the ASX under Listing Rule 12.6.

The company today has also announced the appointment of Mr. Terence Bowen to the Transurban Board as a Nonexecutive Director, effective 1 February 2020.

His appointment is the outcome of a structured approach to Board succession and the Board’s consideration of the key skills, experience and attributes required to continue to effectively govern the business in the future” said Transurban’s Chairman, Mr. Lindsay Maxsted while commenting on the appointment.

At market close on 14 January 2020, TCL stock was trading at a price of $15.640, up by 0.968% intraday, with a market cap of $42.34 billion. TCL stock is trading close to its 52 weeks high price of $16.060. The stock is trading at a PE multiple of 234.7x with an annual dividend yield of 3.92%.

Electro Optic Systems Holdings Limited (ASX: EOS)

Australia’s leading technology company, Electro Optic Systems Holdings Limited has made an announcement stating that it has restructured the board of directors of its major US operating entity EOS Defense Systems USA, Inc (EOSDS).

EOSDS will now be responsible for establishing US production capacity for EOS remote weapon systems and counter-UAS products. Those efforts are on schedule and the Huntsville plan is expected to contribute to EOS capacity from around mid-2020. Further, from 2020 onwards, the company will expand the role of EOSDS to include activities in space, missile defence as well as space communications. In early 2020 EOSDS is planning to enter into a Special Security Arrangement [SSA] with the US Department of Defense to permit EOSDS to undertake classified contracts in the US.

The new board of directors of EOSDS is:

  • Chair - John Berry- served as US Ambassador to Australia from 2013 to 2016 and is currently President of the American Australian Association;
  • Director - Brigadier General [US Army, retired] Phil Coker, who is also Chief Executive Officer of EOSDS.
  • Director - Ms Sheila Cummings, a defense industry and community leader in Alabama. She is the founder, President and Chief Executive Officer of Cummings Aerospace, Inc. which specialises in weapon systems engineering, physics-based modelling and simulation, aerodynamics, guidance, navigation and control.
  • Director - Dr Joe Fitzgerald, the founder of Decision Sciences, a consulting firm supporting aerospace and defence industry. Joe was previously Vice President for Missile Systems Technology, BDM International.
  • Director - Dr Ben Greene who is also Chief Executive Officer of parent company EOS.
  • Director - Major General [US Army, retired] James R. Myles who has served a wide range of senior government and industry roles, including Commanding General of the US Army Aviation and Missile Command and Senior Vice President at DynCorp International.
  • Director - Brigadier General [Australian Army, retired] Peter Short, who is also Chief Operating Officer of parent company EOS.

Dr Ben Greene, the Group CEO of EOS commented:

EOS is very pleased to announce the establishment of such an outstanding board of directors for its principal US operating entity. This board brings to EOS operations in the US a vast array of US defence and aerospace experience in both government and industry.”

At market close on 14 January 2020, EOS stock was trading at a price of $9.010, up by 7.262% intraday, with a market cap of around $949.86 million. The stock is currently trading near to its 52 weeks high price of $9.095. Notably, in the last six months, EOS stock has provided more than 107% return to its shareholders.


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