TFS Corporation Executive Chairman, Frank Wilson, today announced the appointment of two new independent directors.
Company director, lawyer, and former diplomat and politician, the Honourable Richard Alston and Australian cricketing great, Adam Gilchrist will be joining the TFS board. Both have extensive international experience.
Mr Alston and Mr Gilchrist will be replacing Mr Blake Myles and Mr Ian Murchison who are resigning from the TFS Board.
Mr Wilson thanked Mr Murchison and Mr Myles for their dedicated service, and for their considerable contribution to the success of TFS in the formative stages of the company.
The appointments are effective from July 1.
In addition TFS is in advanced discussions with another potential board member with extensive corporate finance and asset management experience and expects to make a formal announcement in late July.
Mr Wilson said the appointments bring new skills which will strengthen the TFS Board.”
“As part of the company’s strategy to become the world’s leading grower, processor and supplier of Sandalwood products, it is important to bring international experience to the Board table,” Mr Wilson said.
Mr Alston has been appointed Chairman-elect of TFS, and will take over the Chairmanship from Mr Wilson at the next annual general meeting.
“Mr Alston’s international experience, as Australian High Commissioner to the United Kingdom, and particularly his ongoing London based activities, his general corporate and commercial experience, as well as his long service as a senior Federal cabinet minister will be invaluable. The fact that he is held in high regard by the international investment community will be of considerable assistance to TFS,” Mr Wilson said.
Adam Gilchrist also brings high quality skill sets to the Board.
“Adam Gilchrist has been working with TFS as its Global Ambassador for the last 12 months and his understanding of TFS products and their potential in new markets has already proved to be a valuable asset,” Mr Wilson said.
With Mr Alston taking over the Chairman’s position, Mr Wilson will be taking up the newly created role of Chief Executive of TFS, which will allow him to focus on the development and execution of the new business model with the company moving towards greater ownership of its plantations.
“TFS aims to significantly increase its own plantations within the next five years. This is the next step towards TFS’ plan for vertical integration, where shareholders will benefit directly from the growing, processing and selling of sandalwood products,” Mr Wilson said.
The Hon Richard Alston
Richard Alston is a non-executive director of UK listed public company Chime PLC and a director of Australian based companies CQS (Investment Management) Australia Pty Ltd, Nanuk Asset Management Pty Ltd and Balmoral Gardens Pty Ltd. He is also a member of the International Advisory Board of London based hedge fund CQS LLP and a member of the Asia-Pacific Regional Advisory Board of Alcatel-Lucent.
Since 2004 he has been an Adjunct Professor of Information Technology at Bond University, Queensland.
From 2005-08 he was Australian High Commissioner (Ambassador) to the United Kingdom and from 1996-2003 he was the Federal Minister for Communications, IT and the Arts in the Australian Parliament. He served as a Senator for Victoria from 1986-2004 and was Deputy Leader in the Senate for more than ten years.
Prior to taking up his London post he was a director of Hansen Technologies Ltd, UCMS Pty Ltd and Broadcasting Services Australia Ltd, of which he served as Chairman.
Adam Gilchrist is one of Australia’s best known international cricketers and is currently the captain of the Kings XI Punjab in the Indian Premier League.
As the Global Ambassador for TFS Corporation since June 2010, he has been involved in the promotion of sandalwood-based products in high-growth countries on the sub-continent such as India, and has an understanding of TFS products and their potential in new markets.
Mr Gilchrist is a member of the Local Steering Committee for the Commonwealth Business Forum, to be held prior to the Commonwealth Heads of Government Meeting (CHOGM) in Perth in October 2011, and is currently Chairman of the National Australia Day Council, appointed by the Prime Minister in 2008.
Mr Gilchrist was a Non-Executive Director of Travelex Australasia from 2003-2008.
He retired from international cricket in 2008 and is the only wicketkeeper in Australia to have captained the Australian Test and One Day teams. He is acknowledged for his leadership, sportsmanship and outstanding contribution to Australian cricket.
In June 2010, Adam was awarded the Order of Australia (AM) for his services to cricket and his contribution to charity.