Dr Allan Sullivan, Chief Executive Officer of ERG Limited, announced today the appointment of Mr Colin Henson as Chairman of the Board of Directors of the Company. Mr Henson succeeds outgoing chairman Mr Tony Shepherd.
Mr Henson brings over 30 years experience in corporate management, having previously acted as Managing Director and Chief Financial Officer for a number of public companies. Mr Henson is currently a non-executive director of MYOB Limited.
In announcing Mr Henson’s appointment, Dr Sullivan said "I welcome the appointment of a person with Mr Henson’s expertise and experience as Chairman of ERG. Mr Henson will be a strong and effective Chairman. ERG looks forward to the future under his stewardship”.
Of the outgoing Chairman, Dr Sullivan commented “On behalf of the Board and Company I thank Mr Shepherd for his guidance and counsel over the past two years. During Mr Shepherd’s tenure as Chairman the Company recorded a number of notable achievements including the restructuring of the company’s balance sheet, the significant reduction of debt and overheads, and the introduction of new management and organisational structures. These changes contributed greatly to the Company’s recent result, the $15.9 million net profit announced for the half year to December 2004.”
In announcing his retirement from the Board, Mr Shepherd said, “In the 2 years I spent as Chairman I believe the Company under Dr. Sullivan’s leadership accomplished much, culminating in the return to profitability. As the Company looks with renewed confidence toward the challenges and opportunities ahead, it requires an experienced Chairman prepared to dedicate the necessary time to the Company. My other business activities are now requiring more of my focus and it is opportune to address this now that the Company is on a sound footing. Colin Henson has the experience and track record. I leave at an interesting and exciting time in the Company's development but satisfied that the Company is in good hands. I wish Colin and the Company well going forward.”
Background information
ERG Group The ERG Group is a world leader in the development and supply of integrated fare management and software systems for the transit industry, and for its smart card systems and services. The Group has installed systems in major cities throughout the world including Hong Kong, Melbourne, Rome, San Francisco and Singapore with installations in progress in Gothenburg, Seattle, Stockholm, Sydney and Washington DC. ERG has delivered systems that support more than 20 million smart cards in circulation and handle approximately 5 billion transactions per annum. ERG is an Australian-based company, listed on the Australian Stock Exchange and employs approximately 900 people in 11 countries.
