Summary
- The appointment of new members ensures a gender balance on the Reserve Bank of Australia Board.
- Both new members have extensive business experience in Australia and are set for a five-year term.
The Federal Government has appointed two new members on the Reserve Bank of Australia Board each for a period of five years.
Image source: Megapixl
Treasurer Josh Frydenberg made the announcement regarding the appointments on Thursday. Ms Alison Watkins and Ms Carolyn Hewson AO will join the Central Bank’s Board.
Ms Watkins replaces former Macquarie Chief Executive Mr Allan Moss AO. Her term is effective from 1 December 2020. Ms Hewson will start her term on 29 March 2021 after the conclusion of Ms Catherine Tanna’s term.
Image Source © Kalkine Group 2020
Ms Watkins has held senior business positions across leading corporations. She is currently a Director of Coca-Cola Amatil (ASX:CCA). Previously, she was a managing director of GrainCorp (ASX:GNC), partner at McKinsey & Company, and worked at Australia and New Zealand Bank (ASX:ANZ).
The Coca-Cola Amatil Director is also a Board member of Business Council Australia and a Non-Executive Director of Centre of Independent Studies.
Ms Carolyn Hewson AO has over 35 years of experience in the energy and finance sectors. She is a former investment banker and holds a position of Director of CSL Limited (ASX:CSL) and Infrastructure SA.
She was a panel member of Financial System Inquiry and was a former Director of BHP Group Limited (ASX:BHP), Westpac Banking Corporation (ASX:WBC) and BT Investment Management.
